There is speculation that Crypto.com, a popular cryptocurrency exchange and financial services provider with millions of users, may be sued by the Securities and Exchange Commission (SEC) for selling unregistered securities. The SEC has recently filed similar lawsuits against Coinbase and Binance, two other major cryptocurrency exchanges.

Several tokens sold on Crypto.com have been specifically named as potential securities by the SEC, including Solana, Sandbox, MATIC, CHZ, BNB, MANA, and ALGO, among others. Crypto.com has also launched its token, CRO, and offers staking services, which could also be viewed as selling securities. Therefore, the exchange may face legal action from the SEC.

Recently, a large Crypto.com user transferred $55.2 million worth of 30,000 ETH and $10 million in Tether (USDT) on the Polygon network to Binance. The transfer has raised eyebrows, with some speculating that it could be related to the SEC’s ongoing crackdown on the industry. If the SEC were to take legal action against Crypto.com, it could potentially impact all of its services and the wider cryptocurrency industry as a whole.