A federal judge dismissed part of the U.S. Securities and Exchange Commission's (SEC) lawsuit against crypto exchange Binance and its founder Changpeng Zhao, but allowed other charges to proceed, including charges against Binance.US' holding company. 😎

Accepted Binance and Zhao's request to take action against the SEC's accusations, including charges of BNB, BNB Vault, staking services, lack of registration, and fraud. However, he denied the accusations linked to secondary BNB sales and Simple Earn. 🤔

The SEC sued Binance, Binance.US and Zhao last summer, alleging that the exchanges offered unregistered brokerage, trading and clearing services for digital asset securities that were not registered in the United States. The regulator has brought similar charges against Coinbase, Kraken, and — as of Friday morning — Consensys and MetaMask. 😅

The SEC has brought a plausible claim on most charges, Judge Jackson wrote in his order Friday. 🧐

Zhao is currently serving a 4-month sentence in connection with a sanctions violation charge brought by the Department of Justice and the Treasury Department. The SEC's case against him is separate from this criminal charge. 😲

While granting Binance's request to dismiss the secondary BNB sale claim, the judge cited Judge Analisa Torres' decision in the SEC v. Ripple Labs case in 2023 and said that the economic reality of token transactions is important to the application of securities law. 🤓

The judge scheduled a hearing for July 9. What do you think about this? I'm waiting for your comments! 🚀#DeFi#Web3