The security regulator's claim that former Binance CEO Changpeng ‘CZ’ Zhao acted as a “control person” will alsoproceed, as will its claim that Binance was obligated to register under the Exchange Act.
But it wasn’t a clean sweep for the Securities and Exchange Commission — with Jackson ultimately deciding to dismiss claims related to BNB secondary market sales and all sales related to the Binance USD (Memorandum Opinion and Order from Judge Amy Berman Jackson in Binance Holdings v SEC. Source: CourtListener
Jackson cited Judge Analisa Torres’ ruling in the SEC’s case against Ripple to support her decision to dismiss the SEC’s BNB secondary market sales claim. It took finance lawyer Scott Johnsson by surprise, who described it as a “big loss” for the securities regulator.The SEC’s claims related to Binance’s passive income feature “Simple Earn” was also knocked back by Jackson.back in June, 2023, claiming Binance offered the sale of unregistered securities and was operating illegally in the U.S.Related:
Seven U.S. states have either revoked or not allowed Binance to renew its money transmitter licence — including Alaska, Florida, Maine and North Carolina.Despite the lawsuit, Binance remains the largest
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