Post
Topic
Board Altcoin Discussion
Re: List of altcoins SEC considers securities
by
dragonvslinux
on 06/06/2023, 14:41:41 UTC
Well they have been saying that xrp is a security for 2 years so i am still waiting for conclusion on that. Many of those i have no clue about and i am wondering why some other obvious securities are not in that list. Maybe they are too low marketcap and low visibility. But i have a feeling that this will be even longer process than anyone thinks. I might be an old man before this is settled.

One interesting factor is the strategy SEC are using to label altcoins securities. Instead of going to for altcoins themselves, they are going for the exchanges facilitating trading instead. This effectively means that the altcoins can't defend themselves against the accusation (as this becomes the responsibility of exchanges if they chose it to do so). This is similar to the SEC lawsuit against Kim Kardashian and Floyd Mayweather for shilling Ethereum Max. They never actually filed a lawsuit against the coin, but only the promoters. So it very much seems they are trying to same tactic here again, in order to get certain altcoins classified as securities by courts, without those altcoins able to defend themselves against it.