A critical move has come in the Binance and SEC case. Judge Amy Berman Jackson in the SEC v. Binance case is seeking a court review to find out whether cryptocurrency assets are securities. The lawyer who will represent Binance denies all claims by the SEC that digital assets are securities. Meanwhile, the Court postponed the hearing to January 22, 2024 due to harsh weather conditions.
Update on Binance and SEC legal battle
According to the latest court filing, the lawsuit that the SEC filed against Binance in June 2023 is still ongoing as the SEC is trying its best to prove that its claims are true. The judge heard arguments from both sides regarding the issue of the case. The essence of the case lies in the issue of whether digital assets are securities or not. The Securities and Exchange Commission claims that many cryptocurrencies are securities. With this, cryptokoin.comAs you follow from , the SEC suffered a partial loss against Ripple.
District of Columbia District Court Judge Amy Berman Jackson said she would hear arguments from both sides, particularly on how the SEC acts against cryptocurrencies under existing regulatory and legal frameworks. Lawyers representing Binance.US will be given the opportunity to express their views. Lawyers will clarify whether a digital asset will remain a security forever. In this context, Amy Berman Jackson held that:
The court plans to hear arguments from just one defense attorney on whether an investment agreement must contain a contractual commitment and whether the SEC misunderstood the meaning of the word “plan” in Howey.
The court postponed the hearing to January 22
Yes, you all heard right! Binance plans to dismiss this ongoing lawsuit as its team heads to a Washington court today. However, the court postponed the hearing to January 22, 2024 due to harsh weather conditions. The latest development will be a very important move against the US SEC. Prominent people in the crypto industry have a lot of expectations regarding this ongoing saga. The SEC accused Binance of fraudulent activities and misleading investors in June last year.
The year 2023 has been challenging for Binance as it has experienced many ups and downs. The saddest part of their regulatory hurdles was the departure of Chanpeng Zhao and the 4 billion settlement with the CFTC.
To be informed about the latest developments, follow us twitter‘in, Facebookin and InstagramFollow on and Telegram And YouTube Join our channel!