Court Dismisses Key Claims on BNB, BUSD Secondary Sales in SEC Lawsuit Against Binance

Jun 29, 2024, 03:36 PM

In a significant development in the lawsuit between the U.S. Securities and Exchange Commission (SEC) and Binance, the court has dismissed several claims made by the SEC. Judge Jackson, drawing on the reasoning from Judge Torres in a previous case involving Ripple, found that the SEC's complaint did not provide sufficient facts to support claims related to secondary market sales of Binance's BNB and BUSD tokens. The SEC's lawsuit against Binance will continue, but the partial dismissal of these specific claims related to secondary trades marks a notable victory for the crypto exchange.