EddieJayonCrypto

 13 Sep 24

tl;dr

The US Securities and Exchange Commission (SEC) has clarified that the term "crypto asset securities" does not refer to the crypto assets themselves, but to the contracts, expectations, and understandings surrounding their sale and promotion. This clarification aims to address confusion in ongoing l...

SEC clarifies the term "crypto asset securities" as referring to contracts and expectations, not the assets themselves

Ripple's Chief Legal Officer criticizes SEC's inconsistent stance on "crypto asset securities"

Critics argue that the SEC's stance fosters legal uncertainty in the crypto industry

The US Securities and Exchange Commission (SEC) has clarified that the term "crypto asset securities" does not refer to the crypto assets themselves, but to the contracts, expectations, and understandings surrounding their sale and promotion. This clarification aims to address confusion in ongoing litigation against Binance. The SEC emphasized that the securities in question are not the crypto assets but the investment contracts tied to their sale and distribution.

Ripple's Chief Legal Officer criticized the SEC's inconsistent stance. Critics argue that the SEC's position has created legal uncertainty, impacting the crypto industry and regulatory agencies.

The US Securities and Exchange Commission (SEC) has clarified the term “crypto asset securities.” The agency attempts to resolve confusion surrounding its use in ongoing litigation against Binance. The SEC issued an amended complaint highlighting that it does not consider crypto assets themselves to be a security . Rather, the term refers to the contracts, expectations, and understandings surrounding the sale and promotion of these assets.

This clarification stems from the SEC’s use of the term in past cases, notably in Footnote 6 of its amended complaint against Binance. The SEC stated that while the term was helpful as shorthand, it may have inadvertently created misunderstandings. Referring to its previous case, the Commission emphasized that the securities in question are not the crypto assets themselves but the investment contracts tied to their sale and distribution.

Ripple’s Chief Legal Officer, Stuart Alderoty, reacted critically to the SEC’s clarification, remarking on the agency’s inconsistent stance.

The debate continues as critics argue that the SEC’s stance has fostered legal uncertainty. John E. Deaton, a candidate for the US Senate in Massachusetts, added that “The SEC loves for the law to be vague,” reflecting frustration from previous cases like the Ripple litigation. This clarification could have significant implications for the crypto industry as regulatory agencies and market participants adjust to these interpretations of crypto asset classifications.

More about Grupo Aeroportuario del Pacifico SAB De CV ADR

Grupo Aeroportuario del Pacifico SAB De CV ADR,Grupo Aeroportuario del Pacfico, SAB de CV, develops, manages and operates airports mainly in the Pacific region of Mexico. The company is headquartered in Guadalajara, Mexico.

Sector: ENERGY & TRANSPORTATION

Industry: AIRPORTS, FLYING FIELDS & AIRPORT TERMINAL SERVICES

Phone: 8554864000

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Market Cap: 24487254000

Price-Earnings Ratio: 182.13

EPS: -0.096

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