Ripple Lawyer Celebrates Legal Victory Over Binance Token Declassification As A Security
Ripple's general counsel Stuart Alderoty celebrated a significant legal victory against the SEC on social media platform X.
Federal Judge Amy Berman Jackson rejects SEC's claim that BNB tokens are unregistered securities
Judge Jackson emphasized the difference between investment contracts and tokens, citing a previous New York court decision in the Ripple case
Ripple attorney Stuart Alderoty celebrates Judge Jackson's dismissal of the SEC's unregistered securities claim regarding Binance tokens, citing previous crypto decisions.
Judge Jackson's decision provides ample ground for legal debate in the crypto community. The opinion clearly states the difference between investment contracts and cryptocurrency tokens themselves; This is an important legal distinction. This distinction follows a Supreme Court directive requiring analysis of “understandings and expectations” around a proposal. Such decisions shape the legal framework of the cryptocurrency market for issuers, investors and regulators.
Different Judicial Opinions and Their Effects on the SEC's Approach
This case adds a new dimension to the conflict between the SEC and the cryptocurrency industry. Judge Jed Rakoff's decision in the Terra case deviated from Judge Torres' decision by stating that the method of sale determines whether the asset is a security. But Judge Jackson's final opinion lends credence to a more nuanced perspective. This increasingly fragmented jurisdictional landscape may force the SEC to reconsider its enforcement strategies, leading to the emergence of a more coherent, yet complex, regulatory approach.
