The US SEC Seeks to Expand Categorization of Securities: Experts
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- The US SEC is pursuing theories that would expand the definition of what constitutes a security.
- The SEC alleges wrapped tokens to be securities because they are a “receipt for security”.
- The Regulator could leverage the receipt theory it promotes to target other crypto assets like ETH.
John Deaton, the founder of Crypto-Law.us, believes that the United States Securities and Exchange Commission (SEC) is pursuing theories that would expand the definition of what constitutes a security. He regards it as a dangerous development executed by the SEC with a well-planned and coordinated strategy.
Deaton said this while replying to comments made by Mike Selig, a crypto and Web3 lawyer, over SEC’s recent activities in the crypto industry. According to Selig, the SEC seems to be shifting the goalpost in the middle of…
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