On September 13, Cointelegraph reported that in the latest development of the US SEC's lawsuit against Binance, the SEC accused Binance and its US affiliate BAM Trading of facilitating transactions of tokens that are currently considered unregistered securities. It accused them of actively promoting these newly identified security tokens to customers and emphasizing their potential investment returns.
The SEC’s updated legal filing now lists more tokens as securities, including Axie Infinity (AXS), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), and Decentraland (MANA), reflecting the SEC’s trend of classifying digital assets as securities.
The SEC’s amendment to the complaint also reiterates its position that Binance illegally operated as an unregistered trading platform, broker-dealer, and clearinghouse. At all relevant times, Binance “utilized the means and instruments of interstate commerce and engaged in the business of trading securities and effecting transactions for the accounts of others.” In the lawsuit, the SEC also states that Binance failed to provide adequate risk and legality disclosures for tokens traded on its international and U.S. platforms.
