What is SEC (Security and Exchange Commission), which we have heard frequently recently?
The commission, which we can call the United States Securities and Exchange Commission, stands out as one of the most important commissions in the country.
As its name suggests, the commission is a government agency responsible for the necessary arrangements for securities and the stock market.
The institution that decides whether the assets are securities or not, and determines which classifications the assets fit, can also be defined as the institution that regulates the stock market.
The SEC is also the agency that enforces federal securities law, can sue for illegitimate circumstances, regulate the securities industry, as well as oversee institutions and organizations that operate in the stock and options markets, as well as the electronic securities markets.
The SEC and its decisions, which have a very important place in the cryptocurrency ecosystem due to its role and nature, are followed very closely. While the question of whether cryptocurrencies are money or securities is evaluated differently by different countries, there is no clear definition for cryptocurrencies in the USA.
The SEC, who recently sued Ripple on the grounds that it was indifferent to its ICO, accused XRP as a security.
EOS had a similar situation in 2019, and EOS agreed to pay penalties by making an agreement. The SEC fined $ 24 million on Block.one, the founding company of EOS.