{"id":63942,"date":"2023-11-08T09:01:20","date_gmt":"2023-11-08T13:01:20","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=63942"},"modified":"2023-11-08T09:02:24","modified_gmt":"2023-11-08T13:02:24","slug":"us-sec-hits-binance-and-binance-us-for-lawsuit-dismissal","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/us-sec-hits-binance-and-binance-us-for-lawsuit-dismissal\/","title":{"rendered":"US SEC Hits Binance and Binance.Us For Lawsuit Dismissal"},"content":{"rendered":"\n

US SEC \r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a>submits an opposition to Binance and Binance.US's motions to dismiss the lawsuit, requesting that the court deny the motion.<\/p>\n\n\n\n
\"US<\/figure>\n\n\n\n

A lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its US subsidiary Binance.US continues to allege violations of security laws and fraud.<\/p>\n\n\n\n

The latest filing by the U.S. SEC expresses opposition to Binance's most recent request.<\/p>\n\n\n\n

Binance\u00a0US and Binance CEO Changpeng “CZ” Zhao both requested that the lawsuit be dismissed<\/a>.<\/p>\n\n\n\n

US SEC Files Opposition to Binance and Terra Lawsuits<\/h2>\n\n\n\n

The U.S. Securities and Exchange Commission (SEC) opposed Binance.US' motion to dismiss the complaint, as stated in a late November 7 court filing.<\/p>\n\n\n\n

Additionally, the SEC requests the signature of Judge Amy Berman Jackson on a proposed order in support of the regulator.<\/p>\n\n\n\n

However, the SEC contends that the court must deny Binance.US' motion to dismiss the litigation on the grounds of investment contract regulations and securities violations as measured by the Howey test and unregistered crypto-based securities that were unlawfully listed.<\/p>\n\n\n\n

Furthermore, the SEC declined to acknowledge any regulatory excesses in the cryptocurrency sector, asserting that the current securities laws adequately safeguard investors.<\/p>\n\n\n\n

The SEC alleged that Binance.US caused a delay and neglected to coordinate with the previous consent order, which resulted in disagreements concerning the discovery of documents and depositions.<\/p>\n\n\n\n

Meanwhile, Judge Jackson scheduled an in-person hearing for January 18, 2024, to consider the motion to dismiss the complaints lodged by the U.S. SEC against Binance, Binance.US, and CEO CZ in their entirety.<\/p>\n\n\n\n

Crypto\u00a0Market Approaching Rally<\/h2>\n\n\n\n

Recent financial setbacks incurred by the SEC in the Ripple lawsuit<\/a> have affected the regulator's credibility.<\/p>\n\n\n\n

Additionally, federal justices have deemed the SEC's methodology “arbitrary and capricious” and “irrational.”<\/p>\n\n\n\n

The crypto\u00a0market extended its recent recovery gains in anticipation of the approval of spot Bitcoin ETFs<\/a>.<\/p>\n\n\n\n

In addition, the price of Binance's BNB token has increased by over 10% in the past week and is presently trading at $247.<\/p>\n","protected":false},"excerpt":{"rendered":"

US SEC submits an opposition to Binance and Binance.US’s motions to dismiss the lawsuit, requesting that the court deny the motion. A lawsuit filed by the U.S. Securities and Exchange Commission (SEC) against Binance and its US subsidiary Binance.US continues to allege violations of security laws and fraud. The latest filing by the U.S. SEC […]<\/p>\n","protected":false},"author":56,"featured_media":59734,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21,834,32],"tags":[16249,1182,3955],"class_list":["post-63942","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","category-binance","category-crypto-exchange-news","tag-binance-vs-sec","tag-binance-us","tag-securities-and-exchange-commission"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2023\/09\/Binance-SEC-strike-deal-to-keep-US-customer-assets-in-country.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63942","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=63942"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/63942\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/59734"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=63942"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=63942"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=63942"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}