$BTC $SOL SEC Plans To Amend Binance Complaint, Removing Immediate Need For Ruling On Token Securities Status

The United States Securities and Exchange Commission (SEC) notified the cryptocurrency exchange Binance of its intention to seek permission to amend its Complaint. This amendment encompasses the inclusion of “Third Party Crypto Asset Securities” as outlined in the Motion to Dismiss, Dkt. No. 172. This move eliminates the immediate need for the Court to rule on the adequacy of the current allegations regarding the tokens.

This may affect the necessity for a court decision on whether tokens like SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, as well as COTI qualify as securities.

Previously, the SEC asserted that outlined digital assets traded on Binance should be classified as securities. The agency argued that these assets satisfy the Howey test criteria, which defines securities as investment contracts. The move to exclude these assets from the securities designation could indicate a change in the perception and regulation of certain cryptocurrencies in the United States, potentially

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