SEC can recognize any token as a security

American financier and TV presenter Mark Cuban accused the Securities and Exchange Commission (SEC) of not having a system for classifying digital currencies.

Under such conditions, the regulator can recognize any token as a security. That is, investors take a big risk when they decide to purchase virtual currency.

The SEC can recognize the asset they bought as a security and accuse its issuer or exchange of not having a license.

As part of the lawsuit initiated by the SEC, the altcoins Binance Coin (BNB), Polygon (MATIC), Cardano (ADA) and Solana (SOL) may be included in the category of potential unregistered securities.

Mark Cuban on Twitter criticized this approach of the regulator. In his opinion, the Securities and Exchange Commission adheres to double standards, which creates big problems for both the industry and the authorities.

It is necessary to develop criteria that issuers of tokens will be guided by. Such a system will ensure the protection of investors and the transparency of operations in the cryptosphere, the billionaire emphasized.