Gary

<p>What does the SEC really want by shaking up Binance? The collapse of the crypto industry or its regulation? Many see Gary Gensler and his team’s recent initiatives as developing a visceral hatred towards the cryptosphere. In addition to targeting the world’s largest exchange, they have also decided to go after 10 tokens traded on the secondary market, such as Cardano’s ADA.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/06/cardano-victime-attaque-SEC-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/06/cardano-victime-attaque-SEC-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/06/cardano-victime-attaque-SEC-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/06/cardano-victime-attaque-SEC-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/06/cardano-victime-attaque-SEC.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="Illustration of a lightning bolt next to the SEC, Binance and Cardano logos."></div><div class="my-4"></div>



<h2 id="h-ada-a-security-for-the-sec">ADA, a “security” for the SEC</h2>



<p><a href="https://www.cointribune.com/la-sec-charge-binance-et-cz/" target="_blank" rel="noreferrer noopener">The news</a> of an attack on Binance and CZ struck the crypto community like lightning yesterday. Among the charges brought by the SEC is the ease of access granted to Americans wanting to trade on Binance.com.</p><div class="my-4"><div class="ads ">
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<p>But according to information reported by <a href="https://thecryptobasic.com/2023/06/05/sec-mentions-cardano-ada-as-a-security-in-binance-lawsuit/" target="_blank" rel="noreferrer noopener">The Crypto Basic</a>, the US financial watchdog has broadened its targets. The crypto media outlet highlighted that the SEC has also targeted 10 tokens considered “unregistered securities.”</p>



<figure class="wp-block-image size-full"><img decoding="async" width="444" height="333" src="https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman-1.png" alt="" class="wp-image-607422" srcset="https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman-1.png 444w, https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman-1-300x225.png 300w" sizes="(max-width: 444px) 100vw, 444px"><figcaption class="wp-element-caption">Mini-list of tokens attacked by the SEC – Source: <a href="https://twitter.com/MetaLawMan/status/1665756841073074177" target="_blank" rel="noreferrer noopener">Twitter</a></figcaption></figure>



<figure class="wp-block-image size-full"><img decoding="async" width="476" height="263" src="https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman2.png" alt="" class="wp-image-607425" srcset="https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman2.png 476w, https://www.cointribune.com/app/uploads/2023/06/tweet-metalawman2-300x166.png 300w" sizes="(max-width: 476px) 100vw, 476px"><figcaption class="wp-element-caption">Desolation over the SEC’s latest initiative – Source: <a href="https://twitter.com/MetaLawMan/status/1665756842734100481" target="_blank" rel="noreferrer noopener">Twitter</a></figcaption></figure>



<p>It should also be noted that the US Securities and Exchange Commission clarified that ADA was sold by IOHK between 2015 and 2017. Thanks to the sale of this security, Charles Hoskinson’s company was able to obtain $62 million.</p>



<h2 id="general-outrage-in-the-community">General outrage in the community</h2>



<p>It is clear that Hoskinson, the man who was accustomed to advocating for the SEC in the Ripple case, has finally changed his mind. Thus, as soon as the attack on Binance and its ADA token was apprehended, he posted a long tweet that boils down to denouncing a government’s desire to control our lives and calling for unity against “authoritarianism.”</p>



<figure class="wp-block-image size-full"><img decoding="async" width="472" height="591" src="https://www.cointribune.com/app/uploads/2023/06/tweet-charles-hoskinson-1.png" alt="" class="wp-image-607419" srcset="https://www.cointribune.com/app/uploads/2023/06/tweet-charles-hoskinson-1.png 472w, https://www.cointribune.com/app/uploads/2023/06/tweet-charles-hoskinson-1-240x300.png 240w" sizes="(max-width: 472px) 100vw, 472px"><figcaption class="wp-element-caption">Charles Hoskinson’s reaction to the SEC’s attack on Binance – Source: <a href="https://twitter.com/IOHK_Charles/status/1665780536177217537" target="_blank" rel="noreferrer noopener">Twitter</a></figcaption></figure>



<p>A “1984” type scenario is to be feared, according to the rather <a href="https://www.cointribune.com/reglementation-crypto-charles-hoskinson-appelle-les-patrons-du-secteur-a-reagir/" target="_blank" rel="noreferrer noopener">unifying CEO</a> of Input Output HK.</p>

Attack against Binance and CZ: SEC also targets ADA

Table of Contents

Cointribune EN

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