After the US SEC recognized several dozen cryptocurrencies as illegally issued securities, investors began to ask questions about what to do with disgraced coins now. The editors of BeInCrypto talked with experts about whether to rush to sell tokens from the black list of the regulator or vice versa — accumulate them on the background of the sale.
What’s happened
In 2023, the US Securities and Exchange Commission (SEC) organized a “crusade” on the crypto industry, part of which was the formation of a “black list” of cryptocurrencies. The regulator includes coins in it, which, from its point of view, are illegally issued securities. As of the time of writing, over 60 cryptocurrencies have been blacklisted, including such capitalization leaders as Binance Coin (BNB), Solana (SOL) and Cardano (ADA).
During a conversation with BeInCrypto, market experts suggested that the SEC will continue to look for illegally issued coins, from the point of view of the Commission. Against the backdrop of pressure from the regulator on the crypto industry, the question arises – what to do with the cryptocurrency from the “black list”? We asked experienced experts to answer it.
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What to do with SEC blacklisted coins
Ismail Ismailov, Candidate of Law, Associate Professor of the Department of International and Public Law of the Faculty of Law of the Financial University under the Government of the Russian Federation, shared his first opinion on what to do with the cryptocurrency, which the Commission recognized as a security.
Our interlocutor noted that The SEC only puts pressure on exchanges that trade securities-recognised coins.. Holders of such cryptocurrencies do not face penalties. At the same time, regulatory pressure on a number of coins, in his opinion, may make it difficult to sell them, since crypto exchanges that have fallen under the scope are delisting them.
Another problem that Ismail Ismailov drew attention to is the fall in the value of cryptocurrencies against the backdrop of regulatory pressure. Wherein recognition by the SEC of a number of coins as illegally issued securities, in his opinion, will not be the end for the altcoin market. Projects that have faced pressure may relocate to softer jurisdictions and refuse to list their cryptocurrencies on American platforms.
“The pressure of American regulators will only discourage the development of the market and provoke crypto projects to go to offshore countries,” summed up Ismail Ismailov.
Dmitry Mazanov, a representative of the Arbitroom IT company, shared a slightly different opinion with the BeInCrypto editors. He believes that the owners of cryptocurrencies recognized as illegally issued securities are at risk.
“Owners of these coins may be required to comply with additional requirements set by the regulator for issuers and investors of securities. This may include registration, disclosure of information, compliance with the rules of the restriction on sale and other regulatory measures,” our source said, adding that in case of violation of regulatory requirements, the owner of the cryptocurrency may be charged.
A popular solution to the problem, in his opinion, could be the sale of disgraced tokens.. At the same time, Dmitry Mazanov noted that a decision on each of the coins must be made separately, in consultation with a lawyer.
Crypto investor Ruslan Zakharkin also joined the discussion. He, unlike Dmitry Mazanov, believes that owners of coins from the “black list” of the SEC should not rush to get rid of them.
“This is not the first attempt by the regulator to “hit” crypto investors and crypto exchanges through court action and threats (as in the case of the XRP coin), so any rollback in the price of the coin will be restored. The SEC will not be able to do absolutely anything – we will just go into the DeFi sector and use DEX exchanges instead of CEX platforms. There is only one risk – the fall of all types of the market. The rest is not a threat, ”summed up our interlocutor.
Summing up
The opinions of experts on what to do with the cryptocurrency, which the SEC recognized as a security, were divided. Two out of three BeInCrypto interlocutors believe that the owners of such coins do not risk anything. Dmitry Mazanov, a representative of the IT company Arbitroom, opposed them. In his opinion, the presence of disgraced coins in the wallet may be a reason for making claims against their owner. At the same time, he noted that each of the cryptocurrencies should be dealt with separately, listening to the opinion of lawyers.
Unfortunately, herself The SEC does not comment on the legality of investments in coins recognized as securities. Therefore, it is impossible to give an unambiguous answer to the question of whether it is dangerous to keep such cryptocurrencies in a wallet.
Disclaimer
All information contained on our website is published in good faith and objectively and for informational purposes only. The reader is solely responsible for any actions taken by him on the basis of information received on our website.
2023-07-01 11:39:00
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