Which altcoins will survive the SEC crackdown? Bitcoin OG explains

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According to Bitcoin OG and educator Dan Held, proof-of-work coins that had a fair distribution when launched are the most likely to avoid being labeled as securities by the US SEC.

Last week, the SEC sued Binance and Coinbase, accusing them of offering a number of altcoins as unregistered securities. As a result, many of the tokens mentioned in the lawsuit were delisted by major trading platforms, causing their price to plummet.

According to Held, tokens that have had fair or transparent launches, such as Litecoin, Dogecoin, and Monero, do not meet the definition of a security that the SEC follows and are therefore likely to avoid the current crackdown.

Related: SEC Charges Against Binance and Coinbase Are Terrifying for DeFi

It definitely looks like the SEC has defined this as something they won’t be looking for, he said in an exclusive interview with Cointelegraph.

According to Held, the vast majority of tokens classified as securities by the SEC in its lawsuit against Coinbase and Binance were proof-of-stake coins, or tokens that had a pre-mined distribution, meaning they have a higher property. centralized.

As Held also pointed out, the current crackdown is primarily being carried out by a single government entity, the SEC, which means the level of pressure on the industry is still far from peaking.

Held also said that only Bitcoin and a few other sufficiently decentralized cryptocurrencies will survive in the long term, as they are the only ones that can survive an all-out government attack.

For more on which cryptos can withstand the ongoing SEC crackdown, watch the full video on our YouTube channel and don’t forget to subscribe!

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