Mitrade Insights is dedicated to providing investors with rich, timely and most valuable financial information to help investors grasp the market situation and find timely trading opportunities.

2021

Best News & Analysis Provider

FxDailyInfo

2022

Best Forex Educational Resources Global

International Business Magazine

Insights

News

Cryptocurrencies

SEC v. Binance lawsuit: Federal Judge calls for court review of whether digital assets are securities

Source Fxstreet

US Federal Judge presiding on SEC v. Binance's lawsuit ordered a court review to find out whether digital assets are securities.
Lawyers representing Binance.US will defend against the SEC’s allegations that digital assets are securities.
The outcome of the lawsuit will clarify whether digital assets and staking products are securities.

The latest development in the SEC v. Binance lawsuit is that Federal Judge Amy Berman Jackson has ordered a court review of whether digital assets and staking products are securities.

Among all cryptocurrencies, XRP is the only one with legal clarity, as of Judge Analisa Torres’ ruling on the SEC v. Ripple lawsuit, in July 2023. The outcome of the SEC v. Binance lawsuit is expected to throw light on “security” status for cryptocurrencies.

Also read: Bitcoin price dwindles amidst resounding ETF success, BTC dethrones Silver with capital inflow

SEC v. Binance lawsuit update

According to a court filing on January 18, the SEC v. Binance lawsuit that was filed in June 2023 has dragged on. The judge overseeing the lawsuit is keen on hearing arguments from both sides on whether digital assets are securities, whether they are securities in “perpetuity” and SEC’s allegations against the cryptocurrency exchange.

Binance’s lawyers are expected to defend against the SEC’s allegations and shed light on the US financial regulator’s treatment of cryptocurrencies within the current regulatory framework.

Judge Jackson intends to find out whether the regulator misunderstands the meaning of “scheme” in the Howey test.

The Judge’s decision will likely answer two major questions for market participants.

Whether digital assets are securities? (XRP is the only one that isn’t a security in exchange transactions or secondary sales, according to a previous court ruling).
Are crypto staking products securities?

The outcome of the lawsuit is expected to help determine whether the regulator’s regulation by litigation is the right approach to crypto.

Disclaimer: For information purposes only. Past performance is not indicative of future results.

Recommended Articles

Gold Price Forecast: Gold Drops Below $4,300, Will It Continue to Fall? As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Author TradingKey

12 hours ago

As of the European session on September 24, gold prices (XAUUSD) extended their correction, dipping below $4,300 intraday to hit a low of $4,262.45. After previously rebounding close to $

Yen touches 158.37 as Tokyo reopens, then slips back — ¥15.4 trillion of intervention and the 200-day line stand between here and 160 USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.

Author Irene Q.

15 hours ago

USD/JPY reached 158.37 overnight, its highest since early September, then eased to 157.88 as Japanese markets reopened after a three-day holiday. The Ministry of Finance has spent ¥15.4 trillion defending the yen since late July and the BOJ ran a rate check on September 18. The 200-day average sits at 158.43.

US input costs rose at the fastest pace in four years — the September flash PMI beat is an inflation story, not a growth story US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Author Suzie

16 hours ago

US September flash PMIs came in far above expectations, with the composite at 58.4, a five-year high. But the detail that moved markets was input cost inflation at its fastest since October 2022, driven by fuel, transport and supply shortages. Brent is back above $100 and the 10-year Treasury yield has hit its highest since 2007.

Euro weakens below 1.1400 as Fed rate hike expectations reinforce US Dollar strength The EUR/USD pair loses ground to near 1.1380 during the early Asian trading hours on Thursday. The major pair extends its downside as hawkish signals from the US Federal Reserve (Fed) boost the US Dollar (USD) against the Euro (EUR).

Author FXStreet

21 hours ago

The EUR/USD pair loses ground to near 1.1380 during the early Asian trading hours on Thursday. The major pair extends its downside as hawkish signals from the US Federal Reserve (Fed) boost the US Dollar (USD) against the Euro (EUR).

Gold Price Forecast: XAU/USD drifts toward $4.300 with bears gaining traction Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Author FXStreet

Yesterday 10: 02

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and drifts lower, approaching the $4,300 area as the US Dollar Index (DXY) rallies further amid high US Treasury yields.

Popular Symbols