HomeBinanceJudge rules in favor of SEC in majority of case against Binance,...

Judge rules in favor of SEC in majority of case against Binance, dismisses secondary sales charge

-


Federal Judge Upholds Most SEC Complaints Against Binance: Founder Changpeng Zhao May Be Personally Liable

Federal Judge Upholds Most SEC Charges Against Binance, Founder May Be Personally Liable

In a blow to Binance, a federal judge has upheld most of the charges levied against the cryptocurrency exchange by the Securities and Exchange Commission (SEC). The ruling found that Binance may have offered unregistered investment products and violated anti-fraud provisions, with the company’s founder and former CEO Changpeng Zhao potentially facing personal liability for the violations.

While the judge dismissed certain claims related to some of the charges, such as Binance’s initial sales of BUSD, the overall ruling is seen as damaging to Binance’s prospects in the SEC case. However, legal experts in the crypto industry have celebrated the dismissal of the secondary sales charge, calling it a win for the greater crypto industry.

Judge Amy Berman Jackson’s ruling emphasized the need for a case-by-case approach when determining whether crypto assets constitute investment contracts. The ruling also criticized the SEC for appearing to argue both sides of the question regarding the designation of crypto assets as securities.

Overall, the ruling highlights the complexity of regulating the crypto industry and the importance of considering the specific circumstances of each case. Binance and its founder now face a challenging legal battle as they navigate the SEC’s allegations.

As the case unfolds, the crypto industry will be closely watching to see how it may impact the broader regulatory landscape for cryptocurrency exchanges and investors.

LATEST POSTS

Doric Blockchain Joins as Sponsor for Paris Blockchain Week 5th Edition at Le Carrousel du Louvre

Highlights from Paris Blockchain Week 2024: Doric Network's Success Story and Future Plans The 5th edition of Europe's largest cryptographic event, Paris Blockchain Week, recently...

Joe Biden-Inspired Crypto Token Skyrockets Following Donald Trump’s Remarks

The Impact of Trump's Mention on Memecoin BODEN: A Case Study in Cryptocurrency Publicity Title: Trump's Mention of Memecoin BODEN Sends Price Surging In a surprising...

SEC focuses on Robinhood and Grayscale’s Ethereum ETFs among other targets

SEC Issues Wells Notice to Robinhood, Grayscale Withdraws Ether ETF Application, Coincheck Nears Nasdaq Listing, Block Raises $1.5 Billion The crypto industry is once again...

Binance, a Top Crypto Exchange, to Introduce Support for New Altcoin Linked to Telegram Game

Binance to Launch Trading Support for NOT Token Connected to Viral Telegram Game Binance, one of the top global crypto exchanges, is set to launch...

Most Popular