D.C. District Court Judge Amy Berman Jackson partially dismissed the U.S. Securities and Exchange Commission's (SEC) lawsuit against Binance, but the majority is of the opinion.
It granted the exchange's request to withdraw the regulator's claims regarding secondary sales of the BNB token, the BUSD stablecoin offering, and the Simple Earn product.
Addressing SEC allegations regarding the ICO and sale of the BNB platform, the BNB Vault program, failure to register, and failure to comply with anti-fraud regulations. The same goes for the staking service on Binance.US.
Charges against former Binance CEO Changpeng Zhao that he, as a controlling person, violated the Exchange Act remained on file.
The commission filed suit against the defendants in June 2023. The regulator put forward a total of 13 points of action.
In ruling on BNB secondary sales, Jackson cited Judge Analisa Torres' 2023 ruling in SEC v. Ripple Labs.
FOX Business reporter Elinor Terrett admitted that this will help lawyers for Coinbase, Kraken and ConsenSys strengthen their positions in lawsuits with the regulator
In her opinion, SEC officials can no longer argue that Torres' decision was an exception that no other judge supported.
