$BNB
Binance Wins Court Battle, BNB Price Soars on Positive News
Florida Court of Appeals Overturns Binance Suspension
The First District Court of Appeals in Florida ruled on May 22 that Florida regulators erred in their efforts to halt Binance's operations. The judges stated that the regulator did not follow proper procedures in blocking crypto exchanges.
A Win For Binance
The decision is seen as a significant victory for Binance, which has faced multiple legal challenges in various jurisdictions. The judges stressed that Florida regulators did not have enough evidence to support Binance's emergency suspension.
Invalid Suspension
As a result, the suspension did not have a proper legal basis and was declared invalid. This allows Binance to continue operations in Florida.
Case Background
Florida regulators took action against Binance in November 2023 after Changpeng Zhao, former CEO of Binance Holdings, pleaded guilty to federal financial charges related to failure to maintain an Anti-Money Laundering program.
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