If it's priced in USD then the SEC can act. To my knowledge, clearing any type of security with dollars as a denomination requires SEC approval. Due to the stat

If it's priced in USD then the SEC can act. To my knowledge, clearing any type of security with dollars as a denomination requires SEC approval. Due to the status of the dollar as the global standard currency this gives the SEC considerable power. If you trade GBP/USD and then USD/EUR then you have to abide by SEC regulations. If you sell PLEX/USD then you have to abide. So anyone offering PLEX/USD has to comply with the freeze. And if they have any accounts in dollars that will be frozen.