{"id":83807,"date":"2024-07-10T07:35:10","date_gmt":"2024-07-10T11:35:10","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=83807"},"modified":"2024-07-10T07:35:13","modified_gmt":"2024-07-10T11:35:13","slug":"judge-issues-crucial-orders-in-binance-vs-sec-ruling-amendments","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/judge-issues-crucial-orders-in-binance-vs-sec-ruling-amendments\/","title":{"rendered":"Judge Issues Crucial Orders in Binance vs. SEC Ruling Amendments"},"content":{"rendered":"\n

A judge has ended the discovery phase in the SEC's lawsuit against Binance<\/a>, dismissing claims related to BUSD, Simple Earn, and secondary BNB sales.<\/p>\n\n\n\n

\"Judge
Judge Issues Crucial Orders in Binance vs. SEC Ruling Amendments<\/figcaption><\/figure>\n\n\n\n

A judge has issued minute orders to conclude the discovery phase in the U.S. SEC lawsuit against Binance, former CEO Changpeng Zhao<\/a>, and Binance.US, the most recent development. The district court dismissed the SEC's securities law violation claims regarding the sales of BUSD, Simple Earn, and secondary sales of BNB.<\/p>\n\n\n\n

The most recent court filings indicate that Judge Amy Berman Jackson issued numerous minute orders to conclude the discovery phase in the Binance Vs SEC lawsuit.<\/p>\n\n\n\n

Judge Jackson requested that the parties submit a joint submission by July 29 in a minute order to undergo additional proceedings. Binance and the SEC are obligated to establish deadlines for any motion to amend the complaint or for relief from the recent decision on a motion to dismiss.<\/p>\n\n\n\n

Parties seeking to amend or seek relief in response to the most recent ruling are obligated to submit a response specifying “whether and how discovery would commence if any motions to amend or for relief are filed, and whether discovery should proceed in phases.”<\/p>\n\n\n\n

Furthermore, a minute update regarding the scheduling of conference proceedings was included in the docket to confer and meet to file a joint submission in accordance with the court's deadline.<\/p>\n\n\n\n

The partial victory of Binance in the crypto market<\/a> was a source of positive sentiment, as the judge indirectly supported Judge Torres's doctrine that crypto secondary sales and programmatic sales are not securities.<\/p>\n\n\n\n

The court determined that crypto tokens are not securities, the sale of BNB on secondary exchanges was not sufficiently alleged to be a security, and the stablecoin BUSD is not classified as a security. The decision regarding BUSD was made by the US DOJ filings in the Mango Markets lawsuit, which contradicted the SEC's assertion that BUSD and other stablecoins are unregistered securities.<\/p>\n\n\n\n

Binance.US's motion to dismiss was denied by the court; however, the cryptocurrency exchange<\/a> has maintained its alertness and readiness for the subsequent stages of this legal process.<\/p>\n\n\n\n

The price of BNB has increased by more than 2% in the past 24 hours, and it is currently trading at $527.80. the low and high of the 24 hours are $511.84 and $528.27, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"

A judge has ended the discovery phase in the SEC’s lawsuit against Binance, dismissing claims related to BUSD, Simple Earn, and secondary BNB sales. A judge has issued minute orders to conclude the discovery phase in the U.S. SEC lawsuit against Binance, former CEO Changpeng Zhao, and Binance.US, the most recent development. The district court […]<\/p>\n","protected":false},"author":36,"featured_media":83809,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[32],"tags":[20419,20418,20420],"class_list":["post-83807","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-exchange-news","tag-binance-vs-sec-3","tag-judge","tag-orders"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/07\/648f7bcbcbad0b2fdf09a2d8_binance-amp.jpeg","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83807","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\/36"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=83807"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/83807\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/83809"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=83807"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=83807"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=83807"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}