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<ul>
 <li>US court rules crypto tokens and secondary transactions aren’t securities.</li>
 <li>Court dismisses SEC’s securities claims against Binance.</li>
 <li>Ruling challenges SEC’s approach to crypto regulation</li>
</ul>
The United States District Court for the District of Columbia has dismissed significant SEC claims against Binance. The court rejected the notion that crypto tokens and certain secondary market transactions qualify as securities. This decision significantly impacts the SEC’s regulatory approach toward the cryptocurrency sector.
Judge Amy Berman Jackson <a href="https://www.binance.com/en/blog/regulation/us-federal-judge-rejects-main-claims-by-sec-against-binance-6713897865359416262" target="_blank" rel="noopener noreferrer nofollow">ruled</a> that the SEC had not adequately alleged investment contracts underpinning BNB token sales in secondary markets with their allegations. This goes along with the ruling that the SEC failed to successfully plead the existence of a contract involving the BUSD stablecoin and did not correctly characterize it as an investment contract.
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
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 <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;">BREAKING<img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f6a8.png" alt="🚨" class="wp-smiley" style="height: 1em; max-height: 1em;"> BINANCE WINS OVER SEC <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f1fa-1f1f8.png" alt="🇺🇸" class="wp-smiley" style="height: 1em; max-height: 1em;"> THE FEDERAL COURT RULED <a href="https://twitter.com/search?q=%24BNB&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BNB</a> SALES, CRYPTOCURRENCY TOKENS ARE NOT SECURITIES. THE RULINGS INCLUDE: – CRYPTO ARE NOT SECURITIES – <a href="https://twitter.com/search?q=%24BUSD&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$BUSD</a> IS NOT A SECURITY – BNB SALES ON SECONDARY EXCHANGES = NOT SECURITIES MASSIVE WIN <img src="https://s.w.org/images/core/emoji/15.0.3/72x72/1f525.png" alt="🔥" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://t.co/0o04NFSqPp" rel="noopener noreferrer nofollow">pic.twitter.com/0o04NFSqPp</a>— Ash Crypto (@Ashcryptoreal) <a href="https://twitter.com/Ashcryptoreal/status/1808399933457719340?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 3, 2024</a>
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Stablecoin and Secondary Market Implications
The court said that BUSD does not even possibly represent security because it is backed by fiat and stable in value, which offers no investment expectations. This aligns with earlier findings by several U.S. regulators, which have not treated similar stablecoins as securities.&nbsp;
Additionally, the dismissal concerning secondary market sales of BNB points to a more nuanced understanding of cryptocurrency transactions, beyond mere investment speculation.
Ongoing Legal Challenges and Market Impact
While the court dismissed several of the SEC’s claims, it allowed others to proceed, maintaining a balanced judicial approach at this preliminary stage. Binance must continue to defend against the remaining allegations, proving that certain transactions do not meet the criteria of securities transactions.&nbsp;
This case marks a critical juncture for the SEC’s engagement with the crypto industry and may influence future regulatory frameworks. The ruling is also part of a broader call for clarity and consistency in cryptocurrency regulation, urging measures for supporting innovation that ensure the integrity of the markets.&nbsp;
<h4 class="wp-block-heading" id="h-read-also">Read Also:</h4>
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 <li><a href="https://cryptonewsland.com/xrp-secondary-sales-deemed-non-securities-judge-torres-doctrine-stands/" rel="noopener noreferrer nofollow">XRP Secondary Sales Deemed Non-Securities, Judge Torres’ Doctrine Stands</a></li>
 <li><a href="https://cryptonewsland.com/binance-wins-key-court-battle-judge-dismisses-several-sec-charges-narrowing-legal-focus/" rel="noopener noreferrer nofollow">Binance Wins Key Court Battle: Judge Dismisses Several SEC Charges Narrowing Legal Focus</a></li>
 <li><a href="https://cryptonewsland.com/chainalysis-wins-80-million-lawsuit-as-manhattan-supreme-court-dismisses-claims-major-win-for-crypto/" rel="noopener noreferrer nofollow">Chainalysis Wins $80 Million Lawsuit as Manhattan Supreme Court Dismisses Claims, Major Win for Crypto&nbsp;</a></li>
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</ul>
The post <a href="https://cryptonewsland.com/us-district-court-dismisses-key-sec-claims-against-binance-in-regulatory-case/" rel="noopener noreferrer nofollow">US District Court Dismisses Key SEC Claims Against Binance in Regulatory Case</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.

US District Court Dismisses Key SEC Claims Against Binance in Regulatory Case

Crypto News Land

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