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COINTURK NEWS > Cryptocurrency Law > Judge Approves Key Decisions in Binance and SEC Case
Cryptocurrency Law

Judge Approves Key Decisions in Binance and SEC Case

In Brief

  • The judge approved the SEC's request to amend the complaint.

  • The discovery process is now extended until 2026.

  • This case may significantly influence cryptocurrency regulation.

İlayda Peker
İlayda Peker 2 years ago
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In the ongoing lawsuit between Binance and the U.S. Securities and Exchange Commission (SEC), a district judge has signed significant orders regarding the joint report and the SEC’s request to amend its complaint. This case, which has garnered considerable attention in the cryptocurrency market, will now extend its timeline until 2026.

Contents
Judge Approves SEC’s RequestCase Extended Until 2026

Judge Approves SEC’s Request

According to the latest ruling, Judge Amy Berman Jackson has approved the SEC’s request to alter its original complaint concerning the use of “crypto asset securities” in the case.

Binance, BinanceUS, and Changpeng Zhao have agreed to review the factual findings on all allegations presented by the SEC. This includes discussions on Binance’s initial public offering of BNB tokens, claims related to BNB Vault, and the presentation of BAM Trading’s staking program as investment contracts.

Case Extended Until 2026

Based on the joint report submitted by Binance and the SEC, Judge Jackson has extended the process of discovery and depositions until 2026. The parties involved will submit their initial statements by October 25 and responses related to the amended complaint by November 4.

“The parties can now focus on factual findings related to all allegations within the complaint.” – Judge Jackson.

The court has decided to dismiss certain claims. For example, it will not rule on whether tokens like SOL, ADA, and MATIC qualify as securities.

This protracted legal battle between Binance and the SEC is expected to increase uncertainty in the cryptocurrency market, with ongoing legal disputes anticipated to persist until 2026. Similarly, due to the SEC’s appeal request, the Ripple $1 case is also unlikely to be resolved before 2026, suggesting that legal pressures on cryptocurrency markets may continue for the next 12 months. Even with a potential change in SEC leadership, legal processes will continue, limiting any relief for cryptocurrencies.

The lawsuit between Binance and the SEC serves as a crucial example for the regulation of crypto assets. Ultimately, the outcomes of this case could have a significant impact on the future of the cryptocurrency market. Market players and stakeholders will closely monitor the progress of the litigation.

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Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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İlayda Peker 18 October, 2024 - 11:07 pm 18 October, 2024 - 11:07 pm
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