Judge’s Smackdown of SEC in Binance Case Sparks Hope for Crypto Industry
- Judge Jackson’s ruling to dismiss the SEC’s claims against BNB’s secondary sale has clarified the secondary sale of crypto assets.
- The ruling hints at the potential victory for exchanges like Kraken and Consensys against the SEC.
- Scott Johnsson acknowledges the ruling as a “big loss” for the SEC.
In a significant legal victory for Binance, a federal judge has ruled that secondary market sales of its BNB token do not constitute securities. The decision could have far-reaching implications for the regulatory landscape surrounding cryptocurrencies and their trading.
Fox Business journalist Eleanor Terrett, in her post on X (formerly Twitter), highlighted the significance of Judge Jackson’s ruling as a “big win” for the crypto industry.
— Eleanor Terrett (@EleanorTerrett) June 29, 2024
NEW: A big win for clarity over secondary market sales of digital assets:
District judge Amy Berman Jackson has just dismissed the @SECGov’s claim that secondary sales of @binance’s $BNB token qualify as securities under the Howey test, citing @Ripple’s Judge Analisa Torres…
In the latest development, the court decided to proceed with most of the charge…
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