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

【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve begins The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

Author Irene Q.

Sep 15, Tue

The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.

October hike odds climb toward 60% as Goldman and BofA both flip — what Warsh's "dose of accommodation" really changed Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Author Irene Q.

Sep 23, Wed

Rate futures now price roughly 55% to 62% for a 25bp hike at the October 27-28 FOMC, up from about 30% before Chair Warsh's post-meeting framing that the Fed is merely "removing some accommodation." Goldman Sachs has added an October hike to its forecast and Bank of America now sees moves in both October and December. Here is the repricing, the language behind it, and the two data points that decide it.

Gold holds steady below $4,150 amid elevated US yields Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

Author FXStreet

Yesterday 01: 14

Gold price (XAU/USD) trades on a flat note near $4,140 during the early Asian session on Tuesday. Pressure from a stronger US Dollar (USD) and elevated US Treasury yields was offset by reduced expectations of a Federal Reserve (Fed) rate hike this month.

Japanese Yen drifts lower as sustained USD buying offsets intervention fears The USD/JPY pair attracts some buyers following the previous day's two-day price moves, trading above the 158.00 mark during the early part of the European session on Tuesday.

Author FXStreet

18 hours ago

The USD/JPY pair attracts some buyers following the previous day's two-day price moves, trading above the 158.00 mark during the early part of the European session on Tuesday.

AUD/USD Price Forecast: Struggles to return to 0.7000 amid firm US Dollar The Australian Dollar (AUD) gives back its early gains after rising to near 0.6975 and turns marginally lower at around 0.6964 against the US Dollar (USD) during the European trading session on Tuesday.

Author FXStreet

17 hours ago

The Australian Dollar (AUD) gives back its early gains after rising to near 0.6975 and turns marginally lower at around 0.6964 against the US Dollar (USD) during the European trading session on Tuesday.

Popular Symbols