Cardano (ADA) and the crypto market just took a punch from the U.S. Securities and Exchange Commission (SEC). The regulator filed a lawsuit against Binance and its CEO, Changpeng Zhao, contributing to the decline in prices across the nascent market. Related Reading: Shiba Inu (SHIB) Poised For Significant Breakout: Here’s What To Watch Out For Cardano (ADA) trades at $0.35 as of this writing, recording a 6% loss in the last 24 hours. In the last week, the cryptocurrency recorded a 7% and stands amongst the worst performers in the top 10 by market capitalization, only surpassed by Binance Coin (BNB). SEC Fight Against Binance Splashes Cardano (ADA) According to the complaint filed by the U.S. regulator in the District of Columbia, Binance has been offering “unregistered securities” since its inception. These alleged securities under U.S. laws include Cardano (ADA), Polygon (MATIC), Solana (SOL), Filecoin (FIL), Cosmos Hub (ATOM), Algorand (ALGO), and others. On the document, the SEC classifies ADA as a “crypto security,” a term which they coined in the last two years. The regulator provides a ..
Support the originator by clicking the read the rest link below.