ChainCatcher news, according to The Block, the U.S. Securities and Exchange Commission (SEC) has long been investigating cryptocurrency companies engaged in the trading of "crypto asset securities." However, now that the agency has explicitly used the term "securities," it claims not to imply that these tokens are indeed securities.It is reported that the SEC stated in a footnote of its proposed amended complaint against the cryptocurrency exchange Binance that when the agency refers to crypto asset securities, it is not referring to the crypto assets themselves, but rather to the entire set of contracts, expectations, and understandings related to the sale of such assets, simply using the term as a "shorthand."At the same time, the SEC also claims that it has always held this position and cited supplementary text in the case against Telegram. However, to clarify the facts, the SEC also stated that it will avoid using this shorthand in the case against Binance and expressed "regret for any confusion."

ChainCatcher news, Coinbase Chief Legal Officer Paul Grewal disclosed that in footnote 6 of the amended complaint submitted by the SEC against Binance, it states: "As this Court pointed out and the SEC reiterated, when the SEC uses the term 'crypto asset securities,' it does not mean that the crypto assets themselves are securities; rather, as the SEC has consistently maintained since the first crypto asset Howey case, the term is merely a shorthand.See Telegram case, while it is helpful as a shorthand reference, the securities in the case are not just crypto assets; they are merely an alphanumeric code sequence. The securities in the case include the complete contracts, expectations, and understandings surrounding the sale and distribution of crypto assets.However, to avoid any confusion, the amended complaint no longer uses this shorthand term, and the SEC regrets any potential confusion."

ChainCatcher news, Ripple's Chief Legal Officer Stuart Alderoty stated on social media, "Crypto asset securities------this term cannot be found in any law; it is a fictitious term without legal basis. The U.S. Securities and Exchange Commission (SEC) should stop using it to mislead judges."

ChainCatcher news, according to TheBlock, the U.S. Securities and Exchange Commission (SEC) has reached a settlement with Plutus Lending LLC, which operates under the name Abra. The SEC stated, "Without admitting or denying the SEC's allegations, Abra has agreed to an injunction prohibiting it from violating the registration provisions of the Securities Act and the Investment Company Act, and has agreed to pay a civil penalty, the amount of which will be determined by the court." The SEC accused Abra of failing to register its retail crypto asset lending product Abra Earn's offerings and sales, and of operating as an unregistered investment company.According to the SEC's lawsuit, Abra used customers' digital assets "to generate income for itself and fund interest payments." Abra Earn generated nearly $600 million in crypto assets for Abra, with $500 million coming from U.S. customers.

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) announced that Terraform Labs PTE, Ltd. and Do Kwon have agreed to pay over $4.5 billion.SEC Chairman Gary Gensler stated, "This case reaffirms the repeatedly stated fact: the economic substance of a product, not its label, marketing, or hype, determines whether it is a security under the securities laws. The fraud committed by Terraform and Do Kwon serves as a reminder that when companies break the law, investors suffer."

ChainCatcher news, according to the SEC's official website, the SEC has charged Stoner Cats 2 LLC (SC2) with conducting an unregistered offering of crypto asset securities in the form of NFTs, raising approximately $8 million from investors to fund an animated web series called "Stoner Cats."