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Updated:03:26 AM EST Nov 30


this is ggmania.com subsite Legal Expert Says SEC Could Target Two Additional Altcoins - TechAmok

Legal Expert Says SEC Could Target Two Additional Altcoins - [briefly]
02:03 AM EDT - Jun,19 2021 - post a comment

US attorney Jeremy Hogan says he believes the U.S. Securities and Exchange Commission (SEC) may target two additional altcoins after launching its battle with payments giant Ripple over the alleged illegal sale of XRP as an unregistered security. Hogan cautions that stablecoin Tether (USDT) could find itself in the crosshairs of the SEC for misleading the market that its dollar-pegged token was fully backed. Hogan says the likelihood of Tether being targeted by the SEC is 90%. Using the Howey Test, which states that an asset can be considered a security if there is an "investment of money in a common enterprise with a reasonable expectation of profits to be derived from the efforts of others," Hogan says Binance Coin (BNB) is in danger too. According to the U.S. attorney, the likelihood of Binance cryptocurrency exchange's utility token being targeted by the SEC is 85%.



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