SEC Targets $120B Crypto Tokens

The US Securities and Exchange Commission (SEC) has expanded its list of digital tokens considered unregistered securities, which now totals over $120 billion in the crypto market. The SEC's actions could have repercussions for Coinbase, Kraken, and other US-based exchanges, as they may need to decide whether to delist these tokens or face potential consequences. The lawsuits have caused price drops in the affected tokens, but their long-term impact remains uncertain as they are traded on offshore exchanges. The crypto market has experienced significant volatility, with its value currently standing at around $1.1 trillion, down from a peak of over $3 trillion during the pandemic-era boom. The SEC's lawsuits against Binance and Coinbase come as regulators increased their scrutiny of digital assets following a tumultuous year in 2022.