Hey, big news! The SEC sued Binance, and the result is out: BNB is not considered a security. Yes, you heard it right, the judge directly said that cryptocurrencies have nothing to do with securities. This ruling is a big deal for the entire cryptocurrency industry.
You may not see much discussion about this in the news, but it is really important. The judge said that BNB should not be considered a security in either the primary or secondary market. The reason is that the SEC did not prove that Binance sold BNB to make money, and the judge also saw the various uses of BNB in DeFi.
What’s more, BNB has passed the famous Howey test, which further proves that it is not a security. This ruling not only has a significant impact on BNB, but it is estimated that other chain projects, such as Polygon, Cardano, Avalanche and Solana’s tokens, can also find some legal references from it.
This is a good thing for the crypto market, at least for now.
If Coinbase wins the lawsuit against the SEC, it means that the transactions on their platform are not unregistered securities. This may cause the prices of small currencies to rise wildly, especially if the Federal Reserve starts to cut interest rates or implement quantitative easing later this year, then the prices of small currencies may really fly.
Ah, a judge has said that the sale of BNB does not count as a securities transaction, which brings a lot of confidence to the cryptocurrency market. This is good news for Coinbase, and it also boosts the legal status and development prospects of the entire industry.
