SEC Abandons Term 'Crypto Asset Security' Amid Binance Case; Tokenized Assets Hit $12B

Sep 13, 2024, 11:50 AM

The SEC has made a significant shift in its approach to cryptocurrency regulation by abandoning the term 'crypto asset security'. This move comes in the wake of criticism and confusion over the term, which the SEC now admits was invented. The change was noted in Footnote 6 of the SEC's amended complaint against Binance, where it expressed regret for any confusion caused by the term. This development highlights the ongoing regulatory challenges and evolving landscape in the cryptocurrency sector. Meanwhile, the market value of tokenized real-world assets, such as US Treasuries and commodities, has reached a record high of over $12 billion, according to Binance research. This excludes the stablecoin market, which is valued at more than $175 billion.