Binance vs SEC Lawsuit: Judge Amy Berman Jackson issues many orders, propelling Ripple through the crypto market.
In the Binance vs. SEC lawsuit, a district judge has signed key orders following a joint report from the involved parties and a motion from the SEC to amend the original complaint.
The court has also issued a scheduling order, extending the case into 2026, making this a significant event for the crypto market.
Judge Amy Jackson Approves SEC Motion
According to the latest minute order, Judge Amy Berman Jackson granted the SEC’s request to amend the original complaint in response to the use of the term “crypto asset securities.”
Ripple’s Chief Legal Officer, Stuart Alderoty, criticized this, calling “crypto asset security” a fabricated term.
He accused the SEC of manipulating the courts, disregarding laws, and twisting terminology rather than clarifying regulations for the crypto industry.
Court Order on Binance and SEC Joint Status Report
As per the latest court filing, Binance, BinanceUS, Changpeng Zhao, and the SEC agreed to conduct fact discovery on all claims. The proceedings, based on a prior order by Judge Jackson, focus on:
- Binance’s initial coin offering (ICO) of BNB and ongoing sales post-ICO.
- Claims regarding the BNB Vault.
- Allegations that BAM Trading offered and sold its Staking Program as an investment contract.
- Accusations that Binance and BAM Trading failed to register under the Exchange Act.
- Charges against Changpeng Zhao for being a control person over Binance and BAM Trading.
- Claims that BAM Management and BAM Trading violated anti-fraud provisions of the Securities Act.
The court will not rule on dismissed claims, including secondary BNB sales, BUSD sales, and Simple Earn.
Additionally, the court will not decide if tokens like SOL, ADA, and MATIC are securities, as they are not involved in the case.
Binance Case Extended to 2026
Judge Amy Jackson also signed a scheduling order for discovery and depositions following a joint report by Binance and the SEC.
Initial disclosures will be exchanged by October 25, and defendants’ responses to the amended complaint are due by November 4. Opposition to any dismissal motion and replies will conclude by December 26.
The court noted, “The parties may now conduct fact discovery, including depositions, on all claims in the complaint that are proceeding pursuant to the Court’s June 28, 2024 Memorandum Opinion and Order.”
Document production is scheduled for July 18, 2025, and fact discovery will close by November 21, 2025.
Depositions and expert discovery on the claims will close by March 27, 2026, extending the case to the end of 2026.
Meanwhile, CoinGape predicts a potential BNB price rally to $800, with the current price trading at $594.52, a 1% increase in the past 24 hours, indicating mostly sideways action but with hopes of a breakout.
