According to Coindesk, a district judge in the District of Columbia dismissed part of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against cryptocurrency trading platform Binance and its founder Changpeng Zhao (CZ).
In an order issued late Friday, Judge Amy Berman Jackson ruled that the SEC’s charges against Binance include Initial Coin Offering, BNB Ongoing Sale, BNB Vault, Staking Services, Failure to Register and Fraud Charges can proceed. But at the same time, she also approved the motion filed by Binance and CZ to “dismiss the charges related to BNB secondary sales and Simple Earn.”
Last summer, the U.S. Securities and Exchange Commission (SEC) sued Binance, Binance.US and its founder Changpeng Zhao, accusing these exchanges of providing unregistered brokerage, trading and clearing services in the United States. Unregistered digital asset securities. The SEC later filed similar charges against Coinbase and Kraken exchanges, and this week against ConsenSys and MetaMask.
According to Fox Business reporter Eleanor Terrett, Judge Amy Berman Jackson noted in dismissing BNB’s secondary sale motion that the nature of a token can evolve over time, even if the token originally served as a security. Does not mean it will always remain a security.
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…
— Eleanor Terrett (@EleanorTerrett) June 29, 2024
「…政府依賴『加密資產是投資合約體現』的說法，並且在聽證會上關於技術本質及平台與每個代幣性能之間的相互依存的論點，這些單獨來看，並不足以使BNB的二級市場銷售被歸類為投資合約的一部分。此外，這種觀點與政府自本案件提起以來一直主張的單一理論有所不符：我們並非說這些幣本身是證券——我們所討論的是投資contract. "
Eleanor Terrett believes that this is a major victory for the second series of digital asset sales, because this case has greatly increased the clarity on the sale of crypto assets in the secondary market. Exchanges including Coinbase, Consensys and Kraken will be able to cite the ruling in lawsuits to bolster their positions.
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