The US regulator SEC is extending its lawsuit against Bittrex for illegal transactions with user funds, to 6 altcoins. A new statement included ‘securities’ status for coins, including OMG Network (OMG) and Algorand (ALGO).
SEC decides securities on these 6 altcoins in Bittrex case
cryptocoin.com We have included the details of the April 17 lawsuit filed by the SEC against Bittrex in this article. In a new development, ‘securities’ status was given for 6 altcoins under the lawsuit. Altcoins that the US regulator considers crypto securities:
- Monolith (TKN), Dash (DASH), NAGA (NGC), IHT Real Estate Protocol (IHT), OMG Network (OMG), and Algorand (ALGO).
The SEC has designated OMG Network (OMG), Dash (DASH), Algorand (ALGO), Monolith (TKN), NAGA (NGC), and IHT Real Estate Protocol (IHT) traded securities on Bittrex. On April 17, the regulator sent a Wells Notice to the central cryptocurrency exchange.
How did altcoin prices react to the news?
Algorand (ALGO), the most popular and high-volume altcoin on the list, is down over 2% at the time of writing. The intraday loss intensified during the hours when the case file emerged.
OMG price did not react to the SEC news. Other coins on the list continue their horizontal price movements.
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