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: 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

9 hours ago

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.

Bitcoin Cash Surges 30% in Single Day as Catch-Up Rally Explodes, Far Outpacing BTC Bitcoin Cash launches catch-up rally, surging 30% in a single day and approaching the $350 mark.On September 23, Bitcoin Cash (BCH) experienced a surge, soaring 30% intraday, far exceedin

Author TradingKey

10 hours ago

Bitcoin Cash launches catch-up rally, surging 30% in a single day and approaching the $350 mark.On September 23, Bitcoin Cash (BCH) experienced a surge, soaring 30% intraday, far exceedin

Memory chips surge, Nasdaq notches a second straight record close — why the Dow fell 185 points anyway Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

Author Irene Q.

12 hours ago

Micron gained 5%, SanDisk 6.8%, Seagate 4% and Western Digital 3% as the memory complex led the Nasdaq Composite to a second consecutive record close of 27,244.28. But the Dow fell 185 points as JPMorgan, Wells Fargo and Schwab slid more than 3% each — a split tape that says more about positioning than about the economy.

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.

13 hours ago

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.

US Special Envoy Witkoff says mediators completed round of US-Iran talks United States (US) Special Envoy to the Middle East, Steve Witkoff, said the US held "lengthy" indirect talks with the Iranian delegation via mediators on the sidelines of the United Nations General Assembly (UNGA), Reuters reported on Tuesday.

Author FXStreet

17 hours ago

United States (US) Special Envoy to the Middle East, Steve Witkoff, said the US held "lengthy" indirect talks with the Iranian delegation via mediators on the sidelines of the United Nations General Assembly (UNGA), Reuters reported on Tuesday.

Popular Symbols