The SEC, which has taken tough steps on cryptocurrencies for the last 2 years, but has started to receive reactions from many politicians and groups, especially Donald Trump in the USA, has also taken a step back in the Binance case. It seems that the institution will not insist that many coins and tokens are securities during the litigation process and that Binance is ‘selling unregistered securities’. The SEC also notified this change to the Binance exchange, the other party to the case, with its notification.

The institution claimed that SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS and COTI coins were securities. After this change, this definition that the SEC attributes to these coins may also change completely.

The SEC’s charges against the Binance exchange did not only involve the sale of unregistered securities. The institution made a total of 13 charges in the case against Binance. These included mixing customer funds with exchange funds, CEO Zhao and the exchange secretly controlling customer funds and directing / sending these funds to other platforms.

Following the lawsuit filed in June last year, another major exchange Coinbase was also sued by the SEC in the same month. However, the lawsuit filed against Coinbase did not include accusations such as mixing customer funds with exchange funds and sending them to other places, embezzlement or not taking steps to prevent money laundering.

Coinbase, like Binance, had also opposed allegations of unregistered securities sales.
The SEC’s significant losses in its lawsuit against Ripple and its approval of these funds, despite its opposition to Bitcoin and Ether spot ETFs, led to a distrust of the institution and its president Gary Gensler in the USA.