• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
Crypto.com CRO SEC Lawsuit
Sensei Inu Logo

Crypto.com’s CRO Firm Despite SEC Lawsuit Fears, Time To Watch The Token?

Dalmas Ngetich by Dalmas Ngetich
4 months ago
in Cryptocurrency Market News
Reading Time: 3 mins read

CRO, the native token of the Cronos blockchain, an open-source, interoperable, and Cosmos-based platform, a centralized crypto asset exchange, is steady despite some community members fearing that the United States Securities and Exchange Commission (SEC), the primary securities regulator in that country, could soon target Crypto.com, the crypto exchange and developer of the blockchain.

CRO Stabilizes Despite Fears The SEC Might Sue Crypto.com

As of writing on June 8, CRO is trading at $0.05889, stable in the last 24 hours against the USD, Bitcoin, and Ethereum. 

CRO Price On June 8| Source: CROUSDT On Binance, TradingView
CRO Price On June 8| Source: CROUSDT On Binance, TradingView

All the same, with the CRO average daily trading volumes at $9,098,498, it is down over 25% in the last trading day. 

The double-digit contraction in the previous 24 hours comes less than 72 hours after the SEC sued Binance, a dominant cryptocurrency exchange, alleging that it has been facilitating the trading of unregistered securities and illegally allowing Americans to access the platform. The SEC has filed 13 charges against the Changpeng Zhao-led exchange. 

Related Reading: Bitcoin Bearish Signal: Dormant 1,433 BTC Moves After 10+ Years

The regulator also sued Coinbase in federal court in New York, claiming that, like Binance, the crypto exchange had listed and profited from the trading of unregistered securities.

Tokens the SEC claim are securities include ADA, the native currency of Cardano; MANA, the token behind Decentraland; SAND, the ERC-20 token priming The SandBox; ALGO, the native currency of the Algorand proof-of-stake blockchain, and MATIC by Polygon. 

Stablecoin, BUSD; NEAR by the NEAR Protocol; CHZ by Chiliz, are some of the tokens mentioned and which the SEC alleges are unregistered securities. 

Even so, there was no express mention of CRO in any of the two lawsuits filed by the regulator against the two largest cryptocurrency exchanges. 

At the same time, it should be noted that Crypto.com also allows the trading of most tokens that the SEC alleges are unregistered securities.

What’s Common in All Tokens The SEC Alleges Are Securities?

Within the Cronos blockchain, CRO is used to pay gas fees. Also, because the platform uses a proof-of-stake consensus algorithm, users can stake CRO and receive rewards. Moreover, users can access the decentralized finance (DeFi) ecosystem in Cronos by holding CRO. 

In 2018, Crypto.com completed its initial coin offering (ICO), raising over $26 million, which also saw the launch of the CRO token. 

Observers have noted that of all the tokens the SEC claims are securities, they all conducted successful crowdfundings. 

Additionally, the projects accused of issuing securities also pledged to their respective communities that they would continue improving the underlying protocol via ongoing development. 

Related Reading: Stablecoin Market Cap Decreases, But Whales Remain Unfazed: Santiment

With this, some of their funds were used to cater for marketing. 

Furthermore, each of these teams used social media channels and forums like Twitter, Discord, and others to highlight the advantages of their respective protocols.

The determination of whether a token qualifies as a utility, such as Bitcoin, or an unregistered security rests with the judge. Until a ruling is made, exchanges may take precautionary measures, including delisting the asset, to ensure compliance with applicable regulations.

Feature Image From Canva, Chart from TradingView
Tags: BinancecoinbaseCROCronoscrypto.comsec
Tweet123Share196ShareSend
Dalmas Ngetich

Dalmas Ngetich

Dalmas is a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC. He’s part of a team of talented team working on bringing latest crypto development across the board. Dalmas is also the ex-founder of btc-pulse.com, a crypto news outlet. Dalmas has over 10 years of experience covering Forex, general finance, technology, and blockchain developments. His work and that of his partners has been featured in top news outlets including investing.com, CoinTelegraph, Entrepreneur, Forbes, and other authority sites. He’s passionate about technology and politics. When he’s not keeping tabs on crypto events, you’ll find him out in nature, exploring and traveling with family and friends. You can follow Dalmas on Twitter @Dalmas_Ngetich or ping him on Telegram @Dalmas_Ngetich

Related Posts

Bitcoin and Ethereum

Will Ethereum Flip Bitcoin? Crypto Analyst Explains How

24 mins ago
‘Uptober’ Hopes Fuel Bitcoin Price Rally, Bitcoin Minetrix Presale Nears $350,000

‘Uptober’ Hopes Fuel Bitcoin Price Rally, Bitcoin Minetrix Presale Nears $350,000

4 hours ago
Chainlink Bear

Chainlink Signal That Preceded Crashes Of 34% Is Back

7 hours ago
Bitcoin BTC price October

Bitcoin News: Analysts Reveal Forecasts For October As BTC Price Pushes Past $28,000

9 hours ago
Praxis announces crypto accessibility partnership with Choise.com,  expanding its global presence

Praxis announces crypto accessibility partnership with Choise.com, expanding its global presence

10 hours ago
Fan Tokens and SportFi Are Drawing Support From Unlikely Quarters, Including Regulators

Fan Tokens and SportFi Are Drawing Support From Unlikely Quarters, Including Regulators

10 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • The Next Bull Run Is Approaching, Follow The Smart Money...

    10 hours ago
  • Index CFDs: Experts Have Conducted A Comprehensive Study In...

    12 hours ago
  • Unbelievable: Tradecurve (TCRV) Skyrockets, Leaving...

    14 hours ago
  • Microsoft’s AI Reveals the Holy Trinity of Profit...

    14 hours ago
  • Investing in Trading 212: Is the Risk Worth the Reward?

    3 days ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.