<ul><li>The alliance between Paradigm and Binance reflects a coordinated effort to combat perceived regulatory overreach within the crypto sector.</li><li>Dispute over the definition of an &#34;investment contract&#34; in the cryptocurrency realm carries significant implications for asset categorization.</li><li>Paradigm&#39;s advocacy for well-defined crypto regulations highlights the industry&#39;s pressing need for regulatory clarity as it continues to expand.</li></ul>In a bold and unexpected move, Paradigm, a well-known crypto research firm, has<a href="https://policy.paradigm.xyz/assets/writing/SECv.Binance-09.28.23-Paradigm-Amicus-Brief.pdf" rel="noopener noreferrer nofollow"> entered </a>the fray to support Binance, its American counterpart Binance.US, and the global CEO, Changpeng Chao. They are embroiled in an ongoing legal battle with the US Securities and Exchange Commission (SEC). This development was highlighted by Wu Blockchain, a prominent figure in the cryptocurrency industry known for providing valuable insights and in-depth analysis through a tweet.<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/ab6ae243eed2489ebe0a6520d2ccc482.png" />This legal battle <a href="https://www.nytimes.com/2023/06/05/business/sec-binance-charges.html" rel="noopener noreferrer nofollow">ignited</a> in June when the SEC unleashed a barrage of allegations against the defendants. These allegations included claims of operating unlicensed exchanges and broker-dealers, setting the stage for a contentious legal showdown.Paradigm&#39;s<a href="https://policy.paradigm.xyz/writing/binance-amicus" rel="noopener noreferrer nofollow"> recent</a> amicus brief, filed on September 29, takes direct aim at the SEC&#39;s legal tactics, boldly accusing the regulatory body of stretching its authority beyond reasonable bounds. Paradigm, an entity that emphatically asserts its lack of vested interest in the defendants, contends that the SEC is attempting a rather audacious maneuver. They allege that the SEC is using the allegations in the lawsuit against Binance and its co-defendants as a springboard to rewrite established law, all while sidestepping the customary rulemaking process.Read full article at<a href="https://cryptotale.org/sec-vs-binance-paradigms-support-sparks-crypto-legal-controversy/" rel="noopener noreferrer nofollow"> CryptoTale.</a>

SEC vs. Binance: Paradigm's Support Sparks Crypto Legal Controversy

CryptoTale

Other articles published on Sep 30, 2023

Chainlink’s Co-Founder Highlights The Perils Related To Bridge

Paradigm criticizes SEC’s approach to its lawsuit against Binance

Hogwarts Legacy Multiplayer Mod ‘HogWarp’ Showcases Hilarious Glitches

Harga BTC Jadi US$170.000 di Tahun 2025 Bukanlah Sekadar Impian

SYN Token Price Falls to 20% After Liquidity Provider Sell-off

Bitcoin Price Analysis: Another Failure To Test 27432 – 1 October 2023

Join our free newsletter for daily crypto updates!