BUSD

Test

The post <a rel="nofollow" href="https://coinpedia.org/news/sec-vs-binance-legal-showdown-intensifies-over-howey-test/">SEC vs. Binance: Legal Showdown Intensifies Over Howey Test</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
As per the latest developments, the SEC has opposed Binance’s motion to dismiss the lawsuit continuing between the SEC and Binance.&nbsp; 
<h2 class="wp-block-heading" id="h-plead-to-dismiss-sec-allegations">Plead To Dismiss SEC Allegations</h2> 
John Reed Stark, a former SEC enforcement officer, <a href="https://twitter.com/JohnReedStark/status/1722232237083742446">highlights </a>recent social media platform X changes. In an attempt to dismiss the U.S. Securities and Exchange Commission’s allegations against Binance and its CEO, Changpeng “CZ” Zhao, the defendants submitted court documents in September. 
In its case, Binance and Zhao contended that the agency had gone ultra-vire to its authority. The U.S. Securities and Exchange Commission (SEC) suffered a setback in September when it could not obtain permission to investigate the software that Binance.US was using. Since filing a lawsuit against the American exchange, its foreign partner Binance Holdings, and its CEO Changpeng Zhao in June, the SEC has stated that it has been unable to get information from Binance.US.&nbsp; 
While Binance maintains that BUSD was not provided as an investment contract because there is no chance of profit, the SEC alleges that Binance advertised and sold BUSD as an investment contract. Its value is anticipated to stay at $1, after all.&nbsp; 
The SEC further stated that the Binance defendants relied on the Ripple finding, which concluded that certain sales of bid/ask transactions were ‘blind’ and did not involve securities, to keep the buyers from knowing whether the money they paid went to Ripple or any other seller of XRP.

SEC vs. Binance: Legal Showdown Intensifies Over Howey Test

目录

CoinPedia News

发布于 2023年11月9日的其他文章

Investors Flocking To This New BTC Alternative Amid SafeMoon Token Scandal

IT Stock Price Prediction 2023, 2024, 2025: Will Bulls Army Hit $500?

Japanese Finance Giant SBI Holdings Decided to Invest in Web3, Artificial Intelligence and Metave...

Polygon Hits $0.8: With This Move, Can MATIC Price Surpass $1 In the Next Few Days?

Why is the Crypto Market Up Today?

China calls for AI unity to tackle global challenges

订阅我们免费的电子期刊，获取每日最新加密领域动态！