BIG BREAKING NEWS đš
Binance users Understand this news
Traders ready to big move đ§
Crypto tokens are never securities. Case closed.
More from the huge Supreme Court victory in the @binance case July 2nd released today.
Exactly as I told you would happen for years âïž the Supreme Court came to the same conclusion.
Final : The Meaning of âInvestment Contractâ
The courtâs opinion dismissed several of the #SECâs core arguments. At the heart of the ruling was the rejection of the SECâs broad assertion that crypto tokens themselves are investment contracts subject to SEC oversight. This stance, a cornerstone of the SECâs efforts to regulate the crypto market through enforcement, was deemed legally untenable. The court found that the SECâs approach muddied the issues and ignored controlling United States Supreme Court precedent. The court also emphasized that the focus should be on whether the circumstances surrounding each transaction renders it a securities transaction. The focus should not be on the tokens themselves, which are not securities.
@iampaulgrewal - close your cases down using this. Its over for the SEC.
@vladtenev - Relist $SOL and appologize to your US customers.
Now to be clear. A crypto token can legally "represent" an investment contract but the investment contract is the security, not the token, which is simply a digital artifact with no counterparties. This has always been the undertanding, but Gary Gensler either:
- Understood this, but was ordered to misinterpret the situation for reasons of suppression and FUD.
- Never understood crypto in the first place. This would imply the Supreme Court ruling that agencies should not be declaring rules based on their lack of understanding in the domain, rather the courts together with experts in the field should be making rules and declarations.
Case closed
