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Binance fined by SEC by end of 2024?
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District of Columbia•Securities and Exchange Commission•SEC•Binance•Amy Berman Jackson•BNB•BNB Vault•Simple Earn
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Judge Allows Most SEC Charges Against Binance and Changpeng Zhao to Proceed
Jun 29, 2024, 03:59 AM
A U.S. District Judge in the District of Columbia has ruled that most of the Securities and Exchange Commission's (SEC) charges against Binance, the world's largest cryptocurrency exchange, and its co-founder Changpeng 'CZ' Zhao can proceed. The judge, Amy Berman Jackson, dismissed the SEC's claims regarding secondary sales of Binance's BNB token, citing that a token's nature can evolve over time and that it should not always be considered a security. The court decision also highlighted that the SEC has not undertaken a comprehensive regulatory approach to the crypto industry. The remaining charges against Binance include those related to the initial coin offering, ongoing sales of BNB, BNB Vault, staking services, Simple Earn, failure to register, and fraud.
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