SEC qualifies 61 cryptos as securities in Binance lawsuit; Apple winks at the metaverse with new VR glasses; Tether invests in El Salvador’s renewable energy project
The US Securities and Exchange Commission (SEC) filed a lawsuit against Binance yesterday evening. The reason for the SEC to take legal action was that the stock market violated the securities. The SEC has brought the total number of cryptocurrencies it defines as securities to 61 since its lawsuit against crypto exchange Binance.
The 61 separate cryptocurrencies that qualify as securities are comprised of several lawsuits the SEC has pursued over the years in which it has determined which cryptos qualify as securities.
The SEC classified 10 cryptocurrencies as securities in its latest lawsuit against Binance. Some of them are: BNB (BNB), Binance USD (BUSD), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI (COTI).
The largest application in which the SEC gathered cryptocurrencies in one go came to the fore in February when it accused Terraform Labs of fraud. A total of 16 cryptoassets qualify as securities, including Terra Luna Classic (LUNC), Terra Classic USD (USTC), Mirror Protocol (MIR), and an estimated 13 Mirrored Assets (mAssets) aimed at replicating the price of stocks like Apple and Tesla.
The SEC’s right to sue in the crypto space means that it currently covers more than $100 billion of the market, or about 10 percent of the total value of the $1.09 trillion crypto market.
However, SEC Chairman Gary Gensler claims that anything other than Bitcoin is a security that falls under the authority of the institution.
According to the statements made by the SEC, these 48 cryptocurrencies are considered securities by the regulatory agency:
XRP (XRP), Telegram’s Gram (TON), LBRY Credits (LBC), OmiseGo (OMG), DASH (DASH), Algorand (ALGO), Naga (NGC), Monolith (TKN), IHT Real Estate (IHT), Power Ledger (POWR), Chromatica (KROM), DFX Finance (DFX), Amp (AMP), Rally (RLY), Rari Governance Token (RGT), DerivaDAO (DDX), XYO Network (XYO), Liechtenstein Cryptoasset Exchange (LCX) , Kin (KIN) Salt Lending (SALT), Beaxy Token (BXY), DragonChain (DRGN), Tron (TRX), BitTorrent (BTT), Terra USD (UST), Luna (LUNA), Mirror Protocol (MIR), Mango (MNGO), Ducat (DUCAT), Locke (LOCKE), EthereumMax (EMAX), Hydro (HYDRO), BitConnect (BCC), Meta 1 Coin (META1), Filecoin (FIL), BNB (BNB), Binance USD (BUSD) ), Solana (SOL), Cardano (ADA), Polygon (MATIC), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS), COTI (COTI), Paragon (PRG), and AirToken (AIR).
In addition, the SEC added that 13 separate Mirror Protocol mAssets are securities:
Mirrored Apple Inc. (mAAPL), Mirrored Amazon.com, Inc. (mAMZN), Mirrored Alibaba Group Holding Limited (mBABA), Mirrored Alphabet Inc. (mGOOGL), Mirrored Microsoft Corporation (mMSFT), Mirrored Netflix, Inc. (mNFLX), Mirrored Tesla, Inc. (mTSLA), Mirrored Twitter Inc. (mTWTR), Mirrored iShares Gold Trust (mIAU), Mirrored Invesco QQQ Trust (mQQQ), Mirrored iShares Silver Trust (mSLV), Mirrored United States Oil Fund, LP (mUSO), Mirrored ProShares VIX Short-Term Futures ETF (mVIXY) .
Apple winks at the metaverse with new VR glasses
Apple has taken one step closer to the metaverse by introducing the VR device called Apple Vision Pro.
According to Reuters, Apple announced its new VR set, rivaling Meta, the most important company in the market.
Expected to launch in the US early next year, the device will be available in more countries for the remainder of the year.
The Vision Pro device will sell for more than three times the Meta’s most expensive VR headset. Vision Pro will launch with prices starting at $3,499.
Intimidation from Apple to Meta
Apple’s new VR headset includes many important features. According to the company’s statement, 3D video can be viewed on the VR headset, while features such as video recording and photo taking will be included.
Another remarkable feature of the Vision Pro is that it is quite light compared to competing titles. Apple claimed that the device will reduce the weight on users’ heads.
Shares of Apple rose 2% before launch to reach a record $184.95.
Apple representative Alan Dye stated that users can select the contents of their glasses with their eyes only, and that it will be enough to use their hands to click. Meta and other companies’ titles should have a different controller in their hands.
Another important feature of the device is that the user’s eyes can be seen from the outside. In the titles on the market, the eyes of the users are completely closed. In Vision Pro, this will change.
Tether invests in El Salvador’s renewable energy project
Stablecoin issuer Tether has announced that it will partner with El Salvador to invest in the country’s $1 billion renewable energy project.
The Central American country continues its efforts towards asset adoption after becoming the first to officially accept Bitcoin nearly three years ago. Finally, El Salvador is working to build a renewable energy zone to power its Bitcoin mining operations.
Tether is among the companies that will invest in the development of Volcan Energy, the country’s renewable energy park.
With the energy produced, the computational power of the park is estimated to exceed 1.3 EH/s. This will put Volcano Energy among the world’s top 20 operations in Bitcoin mining hashrate.
Tether CTO Paolo Ardoino said the investment will be important for stablecoin companies that aim to invest in renewable energy generation as well as mining infrastructure.
Bitcoin advocate Max Keiser heavily supports El Salvador’s adoption efforts while also consulting for Volcano Energy.
