when

Coin

<ul class="news-points">
 <li>District Judge Amy Jackson dismissed the SEC’s claim that secondary sales of BNB tokens qualify as securities.</li>
 <li>The ruling argued that the nature of tokens can change over time.</li>
 <li>Judge Jackson criticized the SEC’s lack of a comprehensive regulatory approach.</li>
</ul>
A federal judge has rejected the U.S. Securities and Exchange Commission’s claim that secondary market sales of Binance’s BNB token constitute securities, delivering a significant win for the cryptocurrency exchange and providing clarity on the regulatory status of digital assets.
Judge Amy Berman Jackson of the U.S. Court for the District of Columbia <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.248.0_1.pdf" target="_blank" rel="noopener noreferrer nofollow">rejected the SEC’s arguments</a> that secondary market transactions of Binance’s BNB token met the criteria for securities as defined by the Howey Test.
The decision aligns with Judge Analisa Torres’ opinion in the <a href="https://coinedition.com/judge-torres-sec-fails-to-justify-appeal-in-ripple-lawsuit/" rel="noopener noreferrer nofollow">Ripple lawsuit</a>, which emphasized the importance of the economic reality of token transactions when applying the Howey Test. In her ruling, Judge Jackson highlighted the SEC’s encroaching stance on crypto regulations and criticized the agency for not adopting a comprehensive approach specific to the industry.
Judge Jackson ruled that the nature of …
The post <a href="https://coinedition.com/sec-suffers-setback-as-judge-rules-binances-bnb-secondary-sales-not-securities/" rel="noopener noreferrer nofollow">SEC Suffers Setback as Judge Rules Binance’s BNB Secondary Sales Not Securities</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

SEC Suffers Setback as Judge Rules Binance’s BNB Secondary Sales Not Securities

Coin Edition

Other articles published on Jun 29, 2024

Week in Crypto: BNB Sees $555 Low, as Raboo Outruns Shiba Inu Down 80% From ATH

Is The Bitcoin Bottom In? Crypto Expert Predicts Bullish Price Reversal

Toncoin (TON) Price Prediction for June 29

MoonBag: The Best Presale in 2024 Secures $3M In Presale, Surpassing PEPE And Celestia Amidst Mar...

MoonBag Memecoin Balances Fun With Stability and Wealth, Surpassing Brett and Cardano in the Gala...

BlockDAG Hits Presale Gold With $54.3M, As Avalanche And Tron Gear Up For Major Gains

Join our free newsletter for daily crypto updates!