LCX Token one of nine declared securities by
SEC, what will be the fallout?
This should be of particular interest to crypto
investors and traders because the SEC's
assertion in the Wahi Complaint may cause
exchanges and investment funds to
reconsider prior reasonable judgments
made, consistent with the Framework, that
the assets were not securities.
This may result in firms being
required to revisit disclosure,
sell client holdings, and amend
or adopt compliance policies
One of the most important pieces of
information the article tries to
convey and communicate is this
appears to be the first clear
communication from the SEC that it
views these specific tokens as
The best example of this is perhaps
found in the following extract: 'With a
major announcement by the SEC and
DOJ of an SEC Enforcement Action
declaring nine utility tokens as
securities, the crypto marketplace has
been severely shaken.
The action has already
resulted in an
which announced it is
delisting the AMP token
effective August 15, 2022.
What impact the SEC
announcement has on the LCX
token and the other eight utility
tokens and the exchanges
within the crypto marketplace
has yet to be seen.
' In discussing the article's creation, Mal
Packer, staff writer at LCXwire said: "LCXwire
is highlighting the significance of the SEC
Enforcement Action and the potential impact
this action may have on LCX, the other eight
utilty tokens identified as securities, every
crypto exchange listing any
LCXwire now welcomes
comments and questions from
readers, in relation to the article,
as LCXwire is always looking for
honest and constructive
feedback on every article.
The reason is simply because
this helps LCXwire craft the
best possible content and
provide the best possible
experience for every reader.
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