Amidst the lawsuits towards Binance and Coinbase, the Securities and Change Fee (SEC) labeled The Sandbox’s token SAND as an “unregistered security.” In response to this, Animoca Brands, the proprietor of The Sandbox, has determined to hunt development exterior of america.
The Hong Kong-based firm has a number of subsidiaries, together with The Sandbox. The SEC labeled SAND, The Sandbox token, as a safety. Together with SAND, a dozen different tokens, like Solana’s SOL, and Polygon’s MATIC are all now thought of securities by SEC.
“Animoca Brands is not focused on a single territory but operates globally. The SEC focuses on the US, so that should not have an impact on Animoca Brands in broader markets where Sand is widely available and accepted, including in more progressive jurisdictions like Hong Kong and Japan,” stated Yat Siu, the co-founder and chairman of Animoca Brands in an interview within the South China Morning Put up.
Siu additionally talked about that Animoca Brands has already began taking steps towards creating in different international locations as a result of “blockchain-hostile” setting in america.
In a earlier interview, Sebastien Borget, the COO and co-founder of The Sandbox, talked about that a lot of the viewers comes from Asia and EMEA areas.
“The metaverse is a global phenomenon, and we’re building a new digital nation where all participants are citizens represented by their avatars,” Borget stated.
He identified that Asia (together with Korea, Japan, Hong Kong, and Thailand) at present accounts for 40% of The Sandbox’s viewers. In the meantime, the US accounts for 25%, which is lesser in comparison with Asia and EMEA.
