Accéder au contenu principal

SEC Adjusts Tactics Against Binance

In the lawsuit between the US Securities and Exchange Commission (SEC) and Binance, the regulator has filed a notice of supplemental authority, citing the judgment in SEC v. Terraform Labs as a key precedent. This move is a strategic effort by the SEC to leverage the Terra ruling in its case against Binance, Binance.US, and former CEO Changpeng ‘CZ’ Zhao.

SEC Modifies Legal Strategy Against Binance

The SEC’s argument hinges on the Terra case’s interpretation of the “investment contract” definition within the context of cryptocurrency offerings. The SEC posits that the court’s application of the Howey Test to classify UST, LUNA, wLUNA, and MIR as investment contracts, and therefore as securities, is directly relevant to the products and services offered by the exchange. This includes the stablecoin BUSD, the staking service, BNB Vault, and the Simple Earn program.

In their filing, the SEC emphasizes, “The opinion is accordingly relevant to the court’s consideration of defendants BAM Trading Inc.’s and BAM Management US Holdings Inc.’s motion to dismiss.” This statement underlines the SEC’s stance that the Terra ruling should influence the court’s decision on whether to dismiss Binance’s motion.

The SEC further argues that the Terra case addressed efforts to “cast aside decades of settled law” regarding investment contracts, asserting that an investment contract doesn’t necessarily mean a traditional contract, transaction, or scheme.

By drawing parallels between the Terra case and the Binance lawsuit, the SEC is effectively asserting that the digital assets and services offered by the exchange fall under the purview of securities law, similar to those in the Terra case.

This legal maneuver is part of a broader narrative of increasing SEC scrutiny over cryptocurrency exchanges and their compliance with US securities laws. The exchange, in response to the SEC’s allegations, has moved to dismiss the lawsuit, challenging the SEC’s legal basis for the suit and arguing that the regulator’s claims do not apply to the actual conduct being analyzed.

Landmark Rulings On The Horizon

The legal battle’s implications extend beyond the courtroom, affecting the exchanges’ internal dynamics. Binance.US’s President and CEO, Brian Shroder, resigned, with Norman Reed taking over as the interim CEO. Additionally, the firm announced layoffs, affecting about one-third of its workforce. Moreover, Changpeng Zhao stepped down as CEO and is currently not allowed to leave the United States.

This high-profile case remains a pivotal point in the evolving regulatory landscape of cryptocurrencies in the United States. The SEC’s reliance on the Terra ruling in the Binance case underscores the importance of victories by crypto players in the US courts.

Both the SEC case against Binance and against the largest US exchange Coinbase are landmark cases that will come to an end this year and whose outcome will shape the crypto landscape.

At press time, BNB traded at $323.4.

BNB price needs to break the 0.618 Fib, 1-day chart | Source: BNBUSD on TradingView.com

Featured image from Binance Square, chart from TradingView.com


Source link

The post SEC Adjusts Tactics Against Binance appeared first on Job From Home Blog.

Libellés :

Commentaires

Enregistrer un commentaire

Posts les plus consultés de ce blog

Jojobet (464)

Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Jojobet bahis adresi ua – En Güvenilir Bahis Sitesi 2021 Geri dönüşü yüksek bir heyecana hazır olun! Heybetli rekabet atmosferinde keyifli bir oyun deneyimi sunan öncü bir bahis platformuna hoş geldiniz. İnternetin en güvenilir ve güçlü adreslerinden biri olarak, size en üst düzey kalite standartlarına sahip online bahis fırsatlarını sunmaktan gurur duyuyoruz. Bahis ve şans oyunları tutkunlarının beklentilerini aşan kapsamlı hizmetlerimizle sizi unutulmaz bir yolculuğa çıkarmak için buradayız. Profesyonel ekibimiz, Türkiye’nin en donanımlı ihtiyaçlarına uygun olarak sürekli yenilenen bahis seçenekleriyle geniş bir kumarhane atmosferi ile etkileyici deneyimler sunar. Farklı spor dallarında eşsiz tahmin ve analiz araçlarıyla dolu olan platformumuz, kazandıran oranlarla sizden tam not alacaktır. En yeni teknolojik yazılım alt yapımız sayesinde, kesintisiz ve sorunsuz oyunculuk deneyiminin tadını çıkarabilirsiniz. Şansın, yetene...
Enregistrer un commentaire
Lire la suite

Space loves AI, AI doesn’t love Space

Space-related applications of artificial intelligence and machine learning are often confined to the ground because moving AI onboard satellites, while promising, is significantly more difficult. “Running AI in space is like running a marathon on the moon — impressive if achieved, but limited by the environment,” said Sylvester Kaczmarek, chief technology officer at OrbiSky Systems, a London startup focused on AI edge operations. Advanced processors are power hungry, meaning satellites with onboard AI require large solar panels and extra batteries. Plus, “radiation in space can fry electronics,” Kaczmarek said. Power management is another problem. Many AI devices require very high currents at low voltages. “The demands that AI devices place on power management are new to the space industry,” said Bert Vermeire, Voyager Space chief technology officer. “There are no good solutions with space heritage and it is difficult to identify efficient and small form factor power and manageme...
Enregistrer un commentaire
Lire la suite

Earn BIG Commissions in 2023

In this post, we’re looking at the best niches for affiliate marketing . So, if you’re struggling to choose a niche for your blog or YouTube channel, this list will help. In this list, you’ll learn some key information to help you determine which is the right niche to choose for you. Information like: How big the niche is and its market share The products you can promote Sub niche ideas And some commission rates you can expect Keep reading. Best Niches for Affiliate Marketing We’ve researched and broken down 21 of the best niches for affiliate marketing, so you don’t have to. Let’s dive in. 1. Artificial Intelligence The Artificial Intelligence industry has exploded in recent years and is projected to be valued at close to US$2 trillion by 2030. That’s what makes this one of the best niches for affiliate marketing today. There is also a wide range of AI tools to promote with generous commissions. For example, LinkWhisper is an AI content optimization tool for SEO of...
Enregistrer un commentaire
Lire la suite