In a landmark decision, a federal court ruled that cryptocurrencies, including secondary sales of Binance’s BNB token, are not securities. This ruling, favoring Binance, could influence other ongoing legal battles and is a major win for the crypto industry.
Cryptocurrencies and secondary sales of the BNB token do not constitute securities, a federal court ruled in another significant victory for the crypto industry.In a significant win for Binance.US, the judge dismissed several claims made by the United States Securities and Exchange Commission , according to a July 2
The SEC started cracking down on crypto exchanges after the collapse of FTX, to avoid a similar meltdown. However, the regulator’s approach has been widely criticized for potentially stifling innovation. According to the ruling, this means that cryptocurrencies are not investment contracts that fall under the purview of the SEC, according to the announcement:
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