America sued Binance

Recently, the US Securities and Exchange Commission in the District of Columbia has filed a complaint against the Binance exchange. Following this news, the cryptocurrency market fell below $25,000. The complaint against Binance exchange and Chang Pang Zhao this year is considered one of the biggest complaints in the history of digital currencies.

America sued Binance
America sued Binance

In the complaint filed against Binance by the US Securities and Exchange Commission, this organization has introduced at least 61 digital currencies as securities. The Securities Commission believes that the Binance exchange has violated the securities laws by offering the bnb token and performing stickig services.

The Commission (Sec) has announced ten cryptocurrencies that are securities and that Binance has violated securities laws by offering them.

BUSD,($277) BNB,($1.00) BUSD,(20) SOL,($0.353) ADA,($0.8272) MATIC,() FIL,() ATOM,() SAND,() MANA($0.46),($6.60) AXS and COTI, ALGO, these cryptocurrencies are almost the currencies that the American Exchange Commission has mentioned as securities and included in the list of complaints against Binance.

According to the legal scope of the US Securities and Exchange Commission, this organization currently supervises the market value of digital currencies of one hundred billion dollars, which includes about ten percent of the total capital of the cryptocurrency market.

In this regard, the Secretary of the US Securities and Exchange Commission, Mr. Gary Gensler, claims that everything except Bitcoin is considered a security.

After the US SEC filed a complaint against Binance, the volume of outflows transferred from Binance exchange in the form of Ethereum tokens to other exchanges has reached the amount of 778 million dollars. The accusations made by the SEC against Binance have caused some Binance users to decide to leave the exchange and transfer their assets to Ethereum tokens.

This transition is due to the greater validity and legal requirements of the Ethereum blockchain. This has caused $778 million worth of money to move from Binance to Ethereum. This information is based on the Nansen report.

Author: John/Columbia

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