The United States Securities and Exchange Commission (SEC) has lodged a case against Binance, the world’s largest cryptocurrency exchange by trading volumes, pressing 13 charges, including one where they accuse the ramp of allegedly allowing the trading of investment contracts.
The regulator claims that these assets are “crypto securities.” Some of the securities listed by the regulator as examples include metaverse tokens of The SandBox, SAND, and Decentraland’s MANA.
SEC Claims MANA And SAND Are Securities
Supporters claim the metaverse is still nascent but could be transformative in the years ahead. However, following the SEC lawsuit against Binance, one of the top exchanges supporting trading of MANA and SAND, questions are beginning to emerge as to whether metaverse tokens are securities, as the SEC alleges.
The SEC claims that Binance has continued supporting crypto asset securities…
