SEC regrets token securitization confusion
The U.S. Securities and Exchange Commission (SEC)’s statement regretting any confusion caused by referring to tokens as securities has attracted widespread attention in the market. According to the filing released on September 12, the agency will adopt more cautious wording in the future to avoid misunderstandings.
The withdrawal decision stems from a lawsuit filed by the SEC against Binance, although the agency still maintains its accusations of unregistered securities. In its 2023 complaint, the SEC identified multiple crypto-assets on the Binance platform as “securities,” including well-known projects Solana, Cardano, and Polygon.
It is worth mentioning that the SEC emphasizes that its classification of tokens does not simply regard all crypto assets as securities, but is based on comprehensive contracts, expectations and understandings. In response, Coinbase Chief Legal Officer Paul Grewal expressed strong opposition and questioned the inconsistency of the current regulatory environment.
As regulatory agencies face increasing pressure, how to balance market innovation and compliance management has become an important issue that needs to be resolved. We look forward to clearer, fairer guidelines in the future to promote the healthy development of the cryptocurrency market.
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