The ruling doesn't make any statement about whether certain crypto tokens are securities but will let a group of investors make that argument.
The EOS token is issued by Block.One, the parent company to Bullish, which in turn is CoinDesk's parent company.that the plaintiffs had filed the lawsuit after the statute of limitations expired and that Binance was not a domestic exchange and did not have strong enough ties within the U.S. to meet the standards of federal securities laws, ruling to dismiss the case.
The circuit court also took aim at the timeliness question, saying the plaintiffs did not start the statute of limitations clock until they purchased the tokens, which was within a year of them filing the suit . Importantly, the ruling doesn't say that the tokens at the heart of the suit are or aren't securities. If the case isn't appealed and goes back to the district court, the parties will get a chance to argue over whether the tokens meet the definition of a security.
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