A U.S. District Judge in the District of Columbia has ruled that most of the Securities and Exchange Commission's (SEC) charges against Binance, the world's largest cryptocurrency exchange, and its co-founder Changpeng 'CZ' Zhao can proceed. The judge, Amy Berman Jackson, dismissed the SEC's claims regarding secondary sales of Binance's BNB token, citing that a token's nature can evolve over time and that it should not always be considered a security. The court decision also highlighted that the SEC has not undertaken a comprehensive regulatory approach to the crypto industry. The remaining charges against Binance include those related to the initial coin offering, ongoing sales of BNB, BNB Vault, staking services, Simple Earn, failure to register, and fraud.
The bulk of a Securities and Exchange Commission lawsuit against Binance, the world’s largest crypto exchange, and its co-founder Changpeng “CZ” Zhao can proceed, a US judge ruled https://t.co/CJ4nMrdJCU
The bulk of a Securities and Exchange Commission lawsuit against Binance, the world’s largest crypto exchange, and its co-founder Changpeng “CZ” Zhao can proceed, a US judge ruled https://t.co/tuCRo03Km8
“There is no question that the agency’s position has evolved and that the agency has not undertaken a comprehensive regulatory approach to the industry.” —#Binance judge, Judge Jackson, on the @SECGov’s approach to #crypto regulation. https://t.co/mct1HLvW0d
A federal judge ruled that the SEC's charges against @binance for the initial coin offering and ongoing sales for $BNB, BNB Vault, staking services, failure to register and fraud charges can proceed. She granted Binance and Zhao's motion to dismiss charges tied to secondary BNB… https://t.co/EqCxWdzICa
A U.S. District Judge in the District of Columbia dismissed the SEC's charges against Binance and CZ related to secondary market BNB sales and Simple Earn. The SEC's charges against Binance's initial token offering and ongoing sales of BNB, BNB Vault, staking services,…
A US judge rules the SEC has plausibly alleged Binance, https://t.co/TUa6o1PcAP, and Changpeng Zhao violated federal securities laws, but dismisses secondary sales charges (@nikhileshde / CoinDesk) https://t.co/CF56vKs4gX https://t.co/ztFCNqReql
📣 Latest News: Court allows most SEC claims to proceed in Binance suit #news #cryptonews #crypto #regulations
The SEC lost again. In the SEC’s lawsuit against Binance, Binance filed a motion to dismiss. That motion was granted in part and denied in part. Importantly, it was granted with respect to secondary sales of BNB that were made by people other than Binance because… a token is…
🚨NEW: Judge Jackson also says that a token’s nature can evolve over time and that even if a token started out as a security, doesn’t mean it always stays one. She may be the first judge to officially address this? "Insisting that an asset that was the subject of an alleged… https://t.co/Tv7wWuHGso
The @SECGov’s lawsuit with @binance will continue as the crypto exchange failed to convince the court to dismiss most claims made by the securities regulator. https://t.co/0kFwEeWvBQ
🚨NEW: A big win for clarity over secondary market sales of digital assets: District judge Amy Berman Jackson has just dismissed the @SECGov’s claim that secondary sales of @binance’s $BNB token qualify as securities under the Howey test, citing @Ripple’s Judge Analisa Torres…
🚨🚨COURT RULES that just because a token was part of an investment contract in the past, it doesn't mean it should always be considered a security. Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia providing the clarity the #crypto industry…
A federal judge dismissed some of the @SECgov's charges against Binance but allowed the bulk of its case against the exchange and its U.S. affiliate to proceed @nikhileshde reports https://t.co/41PtVOSiyd
📣 Latest News: Binance to remove prime brokerage loophole #news #cryptonews #crypto
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