Cosmos is Seen Dragged Further Down Under SEC Pressure
Cosmos prices are seen dragged down after U.S. Securities and Exchange Commission (SEC) filed a sealed motion in the District Court of Columbia against Binance. The motion is accompanied by 37 additional confidential submissions with various exhibits. This is a rare tactic that might be connected to Department of Justice investigation that is focused on Binance compliance with the U.S. anti-money laundering laws and sanctions’ violations, including those that were set against some Russian banks.
Although, the news has not affected the crypto market in general it may hampers some crypto assets related to the assets that were considered as a security by the SEC. Cosmos is on the list of such 11 “securities”. So, when the SEC continues its attack on Binance, it will certainly affect other assets on the SEC list. This is a huge risk for investors. Such expectations can drag ATM prices further down towards $5.00 after the coin lost 17% to $6.98.
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