๐๐Crypto fans, gather 'round! The SEC's lawsuit against Binance & its founder Changpeng Zhao took a twist! Some charges got dismissed, but others are still in play, including those against Binance.US's holding company. ๐ง๐ผ
Judge Amy Berman Jackson ruled that charges for ICO, ongoing sales for BNB, BNB Vault, staking services, failure to register & fraud can proceed. But Binance & Zhao got a pass on charges tied to secondary BNB sales & Simple Earn. ๐ญโ๏ธ
The SEC's been busy, folks! Similar charges have been brought against Coinbase, Kraken, Consensys & MetaMask. But Judge Jackson found the SEC's claims plausible. ๐ต๏ธโโ๏ธ๐
Zhao, currently serving a 4-month sentence for sanctions violation, is facing these charges separately. The judge leaned on a 2023 ruling in the SEC's case against Ripple Labs to dismiss the secondary BNB sales claim. ๐๏ธ๐
The court rejected arguments that the SEC can't enforce actions against crypto entities under the "major questions doctrine". ๐ โโ๏ธ๐ซ
A hearing is scheduled for July 9. Stay tuned, folks! Let's chat in the comments about what this means for DeFi & Web 3.0! ๐ฃ๏ธ๐๐ #CryptoNews #DeFi #Web3
Remember, if it's not about DeFi or Web 3.0, it's a "no-go"! ๐ซ๐