Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

Judge in SEC v. Binance case will test whether tokens are securities

Market and Events: Judge in SEC v. Binance case will test whether tokens are securities

Federal Judge Amy Berman Jackson has ordered an investigation into the classification of cryptoassets as securities.

The ruling comes in the wake of the SEC's case against the Binance exchange and its U.S. division.

The judge's order allows both sides to present their arguments, which will help determine several important aspects:

  • The judge intends to assess whether the SEC correctly understands the "Howey test," the legal framework used to determine whether an investment qualifies as a security;
  • The decision also questions whether the SEC can use litigation as a tool to regulate the crypto industry;
  • Another important point to be clarified is whether crypto-assets, including both primary and secondary sales, fall within the definition of securities;
  • The judge will also consider whether staking applies to these assets;
  • Finally, the ruling is expected to determine whether an investment contract must include contractual obligations between the parties involved in the transaction.

It is important to note that only one attorney will be allowed to represent the defense side. No specific date has been set for a hearing on the matter at this time.

The SEC filed suit against Binance, #Binance.US and former global exchange head #Changpeng Zhao in early June 2023. Notably, the regulator considers crypto assets with a market capitalization of more than $115 billion to be securities.

Additionally, in November 2023, Binance agreed to pay a $4.3 billion fine to settle disputes with the Department of Justice, the Treasury Department, and the U.S. Commodity Futures Trading Commission. It's worth noting that these are separate cases, and hearings on the #SEC lawsuit have yet to be finalized.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: EvoSim Universe, A Novel Mobile-Data Monetisation App, Reaches 10,000 Unique Wallet Addresses, Accelerating Adoption Across the Globe
Dubai, United Arab Emirates, 15 July – EvoSim Universe has reached a significant milestone, with 10,000 unique wallets now registered on its platform..
Press Releases: Exploring Demo Trading in Cryptocurrency: A Guide for Beginners from Biconomy.com Exchange
In the fast-paced world of cryptocurrency trading, where fortunes can be made or lost in minutes, demo trading stands as a crucial tool for both beginners and experienced traders alike..
Press Releases: Mind Network Alpha Mainnet Launch: A Fully Homomorphic Encryption Driven Restaking Layer for AI and POS Networks
We are excited to announce the Alpha Mainnet launch of Mind Network, a Restaking Layer that leverages Fully Homomorphic Encryption (FHE) technology and is designed to enhance the security..
Press Releases: Brett Launches its $BRETT Memecoin on TON Blockchain With a Splash of Fun and Humor
Brett, a leading memecoin sensation platform, has announced the launch of its $BRETT memecoin on TON (The Open Network) blockchain, inspired by Matt Furie’s quirky character, Brett..
Make crypto bots for trading