SEC to Amend Complaint Against Binance and Founder Changpeng Zhao

In a recent court filing, the U.S. Securities and Exchange Commission (SEC) has signaled its intention to amend its original complaint against Binance and its founder, Changpeng Zhao. The regulator plans to file a motion to amend its complaint within 30 days, potentially dropping its charges against Solana (SOL) and Polygon (MATIC) tokens. This move follows a June 28 court ruling that allowed some claims to proceed while dismissing others. Judges will likely decide whether these tokens are unregistered securities or otherwise.

The SEC is pushing for the immediate commencement of discovery, based on claims that have survived Binance’s motion to dismiss, including Counts 1, 3, and 4–13 from the original complaint. The regulator argues there’s no need to delay this process. However, Binance and its co-defendants argue that agreeing to discovery without first reviewing the SEC’s proposed amended complaint is unreasonable, as the scope of the case could change with the new filing. This latest filing responds to the court’s July 9 order.