Opinion: Judge dismisses SEC's allegations of BNB secondary market sales, greatly clarifying the nature of secondary market transactions in cryptocurrencies

According to TechFlow, in the lawsuit between Binance and the SEC, the judge cited Judge Analisa Torres's ruling in the SEC's lawsuit against Ripple Labs in 2016, approving Binance's motion to dismiss claims related to secondary market BNB sales, stating that the economic realities of token trading are critical to the application of securities laws, and that the claims made by the SEC are not sufficient to bring BNB's secondary sales into the scope of investment contracts alone.

FOX Business reporter Eleanor Terrett posted on social media that this case greatly enhances the clarity of secondary market sales of crypto assets. Lawyers for Coinbase, Consensys and Kraken can all cite this ruling in the case to consolidate their positions in the lawsuit.