on the X social media network after federal Judge Amy Berman Jackson dismissed the U.S. Securities and Exchange Commission's claim that the secondary tokens of BNB, Binance's exchange token, are unregistered securities. It is worth noting that she cited the New York ruling in the Ripple case in her opinion.
"The Court notes that several of the district courts presented with SEC enforcement actions involving cryptocurrencies have taken pains to differentiate the alleged investment contracts from the tokens themselves," the opinion said. 'Rich Dad Poor Dad' Author Calls Bitcoin Fast Track Investment, Here’s What He Means
Bitcoin Can Hit $75,000, Here's How, Another XRP Reversal Attempt, Dogecoin to Test out $0.13 Again, But There's CatchMoreover, the opinion says that such a differentiation is consistent with the Supreme Court's directive that the analysis should be based on various"understandings and expectations" surrounding a particular offering. the Torres ruling in his Terra case last year.
Following the Binance decision, Alderoty now says that the courts are seeing"right through" the SEC's attempts to"muddy the waters" with its legal theories that are often deemed to be inconsistent. He has noted that the bulk of the agency's enforcement action against the exchange will not be able to proceed. Now, as the former SEC official predicts, the regulator will take discovery from market investors in Binance tokens who expected to earn a profit by buying them.
"Judge Jackson seems to be saying that, in the secondary market, the mindset of the investor is a crucial determinant of the classification of a digital asset as a security and must be pled with particularity,"Alex Dovbnya is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.
Law Law Latest News, Law Law Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Utoday_en - 🏆 295. / 63 Read more »
Source: Utoday_en - 🏆 295. / 63 Read more »