Judge Amy Berman Jackson of the US District Court for the District of Columbia ruled that most of the SEC's lawsuit against Binance and its founders can proceed. 🏛️ The SEC sued Binance and Zhao in June 2023 for misusing customer funds, misleading investors and regulators, and violating securities regulations. Binance denied the claims and asked for the case to be dismissed in September.

Of the 13 charges, judge Jackson decided 10 would proceed in full, two would proceed in part, and one would be dismissed. The dropped charges related to the sale of BUSD, Binance's defunct stablecoin.

Other allegations about Binance's Simple Earn program, which allows users to earn interest on crypto assets, were also dropped, but the rest continues.

This lawsuit is separate from the $4.3 billion fine that Binance faces in November 2023 for violations of anti-money laundering and sanctions laws.

Let's discuss in the comments column, what impact do you think this news will have on the crypto market? 😄