According to ChainCatcher, Fox Business reporter Eleanor Terrett wrote on X that in the latest developments in the SEC's lawsuit against Binance, the crypto industry has won a major victory in terms of clarity around secondary market digital asset sales.
Judge Amy Berman Jackson stated, “…the government’s reliance on the argument that crypto assets are manifestations of investment contracts, and its arguments at the hearing regarding the nature of the technology, the interdependence of the platforms, and the performance of each token, are insufficient to single-handedly bring BNB’s secondary sales into the context of investment contracts.
Moreover, the agreement is somewhat inconsistent with the single theory the government has been advancing since filing the lawsuit: “We are not saying these tokens are securities — we are talking about investment contracts.”
Earlier today, a federal judge dismissed part of the U.S. SEC's lawsuit against Binance and its founder CZ, but allowed other charges to proceed, including those against Binance.US.
Late Friday, District Court Judge Amy Berman Jackson of the District of Columbia ruled that the SEC’s ICO, BNB, BNB Vault, staking services, unregistration, and fraud charges against Binance can proceed. She granted Binance and CZ’s motion to dismiss charges related to secondary BNB sales and Simple Earn.