🚨🚨 BULLISH MOMENTS ARE COMING 🚨🚨
JUST IN: $BNB AND #BUSD ARE NOT SECURITYS.
In a victory for the industry, a US federal court dismissed several #SEC claims against #Binance , ruling that:
1) Crypto tokens are not securities,
2) $BNB sales on secondary exchanges were not adequately alleged to be securities,
3) #BUSD is not a security.
1. The court’s opinion dismissed several of the SEC’s core arguments. At the heart of the ruling was the rejection of the SEC’s broad assertion that crypto tokens themselves are investment contracts subject to SEC oversight.
2. Another significant aspect of the ruling was the dismissal of the claim that secondary market sales of BNB tokens on crypto exchanges classify as securities transactions. This decision is significant as it recognizes limitations on the SEC’s ability to conduct its rampant enforcement actions against the crypto industry
3. The court dismissed the SEC’s claim that Binance’s fiat-backed stablecoin, BUSD, is sold as an investment contract. The court said that BUSD was marketed as a stablecoin, with no facts suggesting that investors expected it to increase in value due to Binance’s efforts.
WHAT A TIME TO BE ALIVE
