Maybe you have heard about SEC requirements for centralized Altcoins because many Altcoins are operated in a very centralized way.
If such Altcoins are too centralized, it’s not a decentralized cryptocurrency and such centralized Altcoins need to be SEC-registered to meet all requirements for security reasons, like if a big hack occurs at Terra Luna.
In opposite, decentralized cryptocurrencies can’t be hacked in a centralized way because of decentralization.
Here’s a list, which centralized coins are affected:
Bitcoin, Ethereum and Avalanche are NOT affected.
SEC doesn’t consider Avalanche a security because Avalanche is a decentralized coin
Avalanche is a very decentralized network, where many people are participating and because of Avalanche’s decentralization. Avalanche has implemented a modern technology, called repeated subsampling, where all nodes can be scaled massively, making Avalanche network very decentralized.
Every coder can set up a node, so it is very decentralized.
Like Ethereum, Avalanche is already decentralized enough to be not considered to register for SEC documents. In opposite, many centralized Altcoins are due to get registered, which can take a long time for such a procedure, where many coins will lose market positions.
Bitcoin, Ethereum and Avalanche are not required to do so.
It is huge bullish news for Ethereum and Avalanche.
If such Altcoins are too centralized, it’s not a decentralized cryptocurrency and such centralized Altcoins need to be SEC-registered to meet all requirements for security reasons, like if a big hack occurs at Terra Luna.
In opposite, decentralized cryptocurrencies can’t be hacked in a centralized way because of decentralization.
Here’s a list, which centralized coins are affected:
Quote
SEC Allege the Following Coins Are Securities in Coinbase Lawsuit
SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO
https://twitter.com/tier10k/status/1666055678610292737SOL, ADA, MATIC, FIL, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO
Bitcoin, Ethereum and Avalanche are NOT affected.
SEC doesn’t consider Avalanche a security because Avalanche is a decentralized coin
Avalanche is a very decentralized network, where many people are participating and because of Avalanche’s decentralization. Avalanche has implemented a modern technology, called repeated subsampling, where all nodes can be scaled massively, making Avalanche network very decentralized.
Every coder can set up a node, so it is very decentralized.
Like Ethereum, Avalanche is already decentralized enough to be not considered to register for SEC documents. In opposite, many centralized Altcoins are due to get registered, which can take a long time for such a procedure, where many coins will lose market positions.
Bitcoin, Ethereum and Avalanche are not required to do so.
It is huge bullish news for Ethereum and Avalanche.
The latest events in the crypto space has only but left every crypto enthusiast in awe, SEC just raises legal concerns over projects they have no idea about simply because they have no control over them. XRP concerns are yet to be concluded, more than a year since the suit was filed. Now, we have them going after leading Exchangers in the space and in the process, names of Projects were mentioned as securities, I will want them to make open the criteria for mentioning those coins/projects as securities, because, if they don't, then, the list of securities isn't exhausted yet, Only time is needed to add Avalanche to the list