Hong Kong-based blockchain unicorn Animoca Brands is shifting its focus towards global markets following regulatory scrutiny from the US Securities and Exchange Commission (SEC). The SEC recently labelled Animoca's SAND cryptocurrency as an unregistered security, targeting exchanges such as Binance and Coinbase Global.

Animoca Brands' co-founder and chairman, Yat Siu, stated that the SEC's actions would not significantly impact the company's presence in broader markets where the Sand token is widely accepted and available. 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.