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 ends three-week slide at the $4,400 line — eight straight days of ETF inflows vs a 5% 10-year and a 100 dollar Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

Author Suzie

Sep 20, Sun

Spot gold closed Friday at $4,378.39, up 0.84% on the day and about 0.8% for the week — its first weekly gain in four weeks — with the intraday high of $4,399.67 leaving it 33 cents shy of the $4,400 line. Gold ETFs have now logged eight straight sessions of inflows, but with the 10-year back above 5% and the dollar index near 100, here is what decides whether this is a reversal or a bounce.

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

Oct 06, Tue

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.

WTI rises to near $89.50 as Middle East supply threats offset Persian Gulf recovery West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

Author FXStreet

Yesterday 01: 26

West Texas Intermediate (WTI) oil price extends its gains for the second successive day, trading around $89.50 per barrel during the Asian hours on Wednesday. Crude oil climbed as persistent risks to Middle East energy flows overshadowed signs of rising supply from the region.

Gold Price Forecast: XAU/USD retraces gains and nears two-month lows at $4,104 Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.

Author FXStreet

15 hours ago

Gold (XAU/USD) retraces Tuesday’s gains on Wednesday and resumes its broader bearish trend, with the US Dollar (USD) appreciating across the board, as investors brace for the release of the minutes of the latest Federal Reserve (Fed) meeting.

Popular Symbols