The SEC has again filed a renewed lawsuit against Binance and its former CEO, Changpeng Zhao, over claims that they operated an unregistered securities exchange! 📜⚖️ The lawsuit comes after the sale of ten cryptocurrencies on the secondary market involving Binance’s BNB coin. 💰🔍
After a judge questioned the reasoning behind the previous lawsuit, the SEC filed a new complaint. 🏛️🔄 They responded to Binance and Zhao’s claims seeking dismissal of the lawsuit, stating that they had met all of the requirements set forth in the Howey test for identifying securities. ✅📈
The SEC also added several allegations about the status of the cryptocurrencies involved and responded to criticism of their policies. 😤💬 They emphasized that while there have been concerns about regulatory dominance, it has not occurred as alleged.
The lawsuit was first filed on June 5, 2023, and covers ten coins, including Solana, Cardano, and Axie Infinity. 📅🔗 The SEC also sued Coinbase the following day, claiming that 13 tokens offered by the exchange were securities.
With a total of 68 cryptocurrencies claimed to be securities in all the lawsuits filed, the situation continues to grow and attract the attention of many in the crypto industry. 🔍💼 Let’s see how these developments will impact the market going forward! 🌐🚀$BNB