The long-standing legal battle between cryptocurrency exchange Binance and the U.S. Securities and Exchange Commission (SEC) appears...
Crypto community remains optimistic, despite ongoing legal proceedings between Binance and SECand the U.S. Securities and Exchange Commission appears to be edging towards a conclusion. In fact, if the developments over the last 24 hours are taken into consideration, it would seem that this conclusion may just be in Binance’s favour.dated 28 June, Judge Amy Berman Jackson has dismissed portions of the SEC’s lawsuit against Binance and its founder, Changpeng Zhao.
However, she permitted other charges, including those targeting the holding company of Binance.US, and the one against ex-Binance CEO Changpeng ‘CZ’ Zhao who is alleged to have operated as a “control person.” The case arguing that Binance needed to register under the Securities Exchange Act of 1934 was also allowed to proceed by the court.These charges included operating unregistered exchanges, broker-dealers, and clearing agencies. Additionally, they were also accused of misrepresenting trading controls on Binance.US and engaging in unregistered sales of securities.
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