The total number of cryptocurrencies that are considered securities now reaches 67

According to statistics, after the lawsuit against Binance and Coinbase, the total number of cryptocurrencies marked as securities by the US SEC has now reached 67. Specifically, in the case against Binance, the SEC classified 10 cryptocurrencies as securities, while in the lawsuit against Coinbase, it classified 13 cryptocurrencies as securities. The total market value of the cryptocurrency projects involved exceeds $100 billion, accounting for about 10% of the total market value of $1.09 trillion in cryptocurrencies.

I can only say that the SEC is so hardworking that it not only regulates traditional securities such as stocks, bonds, futures, options, etc., but also includes cryptocurrencies under its jurisdiction. In this way, it can not only protect the interests of investors (questionable here), but also collect more taxes and fines. It really kills two birds with one stone.

However, I am also curious about how the SEC determines which cryptocurrencies are securities and which are not. Is it based on some magical algorithm or standard? Or is it arbitrary and based on mood? If it is the latter, then the issuers and holders of cryptocurrencies should be careful, because they may be sued in court one day and fined tens of millions of dollars.

I think that as an emerging financial innovation, cryptocurrency should have its own characteristics and value, and it does not have to fully comply with traditional securities definitions and rules. If the SEC is too strict and arbitrary in regarding cryptocurrency as securities, it may stifle its development potential and vitality, and also damage its decentralized and liberal nature.

I hope the SEC can pull back from the brink, correct its mistakes in a timely manner, treat cryptocurrencies with more openness and inclusiveness, cooperate with them rather than confront them, and jointly promote diversification and innovation in the financial market.

Of course, my "hope" has no effect on this matter. I can only silently send my most sincere blessings every day: "SEC! I start with F and end with K, you bastard!"