In a footnote to its amended complaint against Binance, the U.S. Securities and Exchange Commission (SEC) clarified that when it uses the term "crypto asset securities," it is not referring to the crypto assets themselves but rather the entire package of contracts, expectations, and understandings surrounding the sale of those assets. Essentially, the SEC is using this term as a "shorthand."

The SEC also claimed it has consistently held this position, citing similar explanations made in its case against Telegram. However, to further clarify the issue, the agency said it will avoid using this shorthand in future proceedings against Binance and "regrets any confusion caused."