The US SEC expands the scope of its lawsuit against Binance, adding tokens such as AXS, FIL, and ATOM as unregistered securities

ChainCatcher news, according to Cointelegraph, the U.S. Securities and Exchange Commission (SEC) has expanded the scope of its lawsuit against Binance. The updated legal documents from the SEC list tokens such as Axie Infinity (AXS), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), and Decentraland (MANA) as unregistered securities.

The SEC accuses Binance and its U.S. affiliate BAM Trading of facilitating the trading of these tokens and promoting their potential investment returns to customers. The regulator reiterated that Binance is operating illegally as an unregistered exchange, broker-dealer, and clearing agency, failing to provide adequate disclosures regarding the risks and legality of token trading.