Judge upholds ‘bulk’ of SEC case against Binance but nixes secondary sales charge, among others | Headlines | News | CoinMarketCap
06/29/2024 23:23
Binance's attempt to whittle down the charges levied by the SEC has largely failed after a federal judge upheld most of the agency's complaints …
The Block Crypto News18 minutes ago
Foresight
BUSD
SEC
Block
James
Published on June 29, 2024 16:04 GMT+00:00edited on June 29, 2024 16:09 GMT+00:00
Binance's attempt to whittle down the charges levied by the SEC has largely failed after a federal judge upheld most of the agency's complaints against the company for potentially offering unregistered investment products and violating anti-fraud provisions.
The ruling found most of the agency's arguments plausible and rejected certain arguments made by Binance that have also been rejected by fellow judges, such as the idea that the Major Questions Doctrine means the SEC lacks the authority to regulate the crypto industry altogether.
In addition, the court found that Binance founder and former CEO Changpeng Zhao, who is currently serving jail time related to charges against Binance from the Department of Justice in a separate case, may be personally liable for Binance's …