24/7 Cryptocurrency News

Animoca Brands Shifts Focus From U.S. After SEC Labels SAND Token A Security

Following the SEC's calssification of Animoca Brands' SAND token as an unregistered security, the firm said it would concentrate on markets outside of the United States.
Published by
Animoca Brands Shifts Focus From U.S. After SEC Labels SAND Token A Security

Crypto News: Animoca Brands, a Hong Kong-based blockchain unicorn, has announced a strategic shift towards global markets after the crypto market witnessed a number of lawsuits from the Securities and Exchange Commission (SEC). The SEC recently labeled Animoca’s SAND cryptocurrency as an unregistered security while targeting exchanges such as Binance and Coinbase Global.

Advertisement

Animoca Brands Diversifies Beyond US

According to Animoca Brands’ co-founder and chairman, Yat Siu, the company operates globally and does not solely focus on a single territory. Siu emphasized that the SEC’s actions would not have a significant impact on Animoca Brands’ presence in broader markets where the Sand token is widely accepted and available. This includes progressive jurisdictions such as Hong Kong and Japan.

Read More: US DOJ Asked To Investigate Binance On False Statements To Congress

In response to the increasing regulatory scrutiny and what Siu refers to as a “blockchain-hostile” approach in the United States, Animoca Brands has proactively initiated steps to prioritize other markets. The company aims to mitigate potential setbacks resulting from the SEC’s actions by expanding its operations and strengthening its presence in regions beyond the US.

Advertisement

Potential Delisting For SAND Token

While Coinbase remains resolute on not removing the cryptocurrencies highlighted in the SEC lawsuit, other exchanges are carefully examining the SEC’s analysis to determine their course of action. Robinhood, a popular US brokerage firm, is actively reviewing the SEC’s report to assess whether any action, such as delisting tokens from their platform, is necessary.

Sabastien Borget, co-founder and COO of The Sandbox — a virtual world built on blockchain technology and a star offering of Animoca’s wide range of products — responded to the SEC’s claims on Wednesday. Borget stated that the SEC’s characterization of their token as a security did not affect the company’s day-to-day business operations and he didn’t “necessarily agree” with the SEC’s classification of tokens.

As part of its global diversification, recent reports suggest that Animoca is making significant investments in the Middle East and other parts of the world to tap into the growing opportunities. In the wake of this news, the price of SAND is currently exchanging hands at $0.49 which represents a drop of 0.57% over the previous day.

Also Read: Circle Ropes In Former CFTC Chair To Push For Regulatory Clarity On Crypto

Advertisement

Share
Coingapestaff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • 24/7 Cryptocurrency News

Avalanche Treasury Seals $675M Deal With Mountain Lake to Build $1B AVAX Vehicle

Avalanche Treasury Co., in partnership with Mountain Lake Acquisition Corp., has unveiled a $675 million…

October 2, 2025
  • 24/7 Cryptocurrency News

Just In: Nasdaq-Listed VivoPower Raises $19M in Equity to Expand XRP Treasury Holdings

Nasdaq-listed VivoPower has stepped up its digital treasury goals with a fresh capital raise aimed…

October 2, 2025
  • 24/7 Cryptocurrency News

Solana Price Rallies 5% as Nasdaq-listed VisionSys Launches $2B SOL Treasury Strategy

Solana increased in price by 5% to approximately $219 following a $2 billion Solana treasury…

October 2, 2025
  • 24/7 Cryptocurrency News

XRP Ledger Rolls Out MPT Standard for Real-World Asset Tokenization

The XRP Ledger (XRPL) has launched the Multi-Purpose Token (MPT) standard, designed to simplify and…

October 1, 2025
  • 24/7 Cryptocurrency News

SEC Puts Crypto ETF Approvals On Hold Following U.S. Government Shutdown

The U.S. Securities and Exchange Commission has announced plans to streamline its operations amid the…

October 1, 2025
  • 24/7 Cryptocurrency News

Pi Network Adds DEX and AMM Features To Expand Pi Coin’s Utility

Pi Network has now added two new features to its Testnet. These are a decentralized…

October 1, 2025