Judge Signs Multiple Orders in Binance Vs SEC
In the ongoing legal battle between Binance and the SEC, Judge Amy Berman Jackson has signed multiple orders to clear pending motions. These include an amicus brief filed by USDC issuer Circle, who argues that stablecoins are not securities and that the SEC lacks authority over payment stablecoins.
The court has also reminded that an amicus curiae can only participate in oral arguments with the court’s permission.
Binance Seeks To Dismiss the Lawsuit
Binance, along with its U.S. arm and CEO Changpeng “CZ” Zhao, has filed a motion to dismiss the SEC lawsuit. The defendants claim that the agency overstepped its authority.
The SEC has accused Binance of mishandling customer funds, misleading investors and regulators, and violating securities rules. Other crypto firms like Coinbase are also seeking to dismiss the lawsuit, arguing against the SEC’s attempts to gain authority over the crypto industry.
Hot Take: Crucial Hearing Scheduled in Binance Vs SEC Case
The legal clash between Binance and the SEC is reaching a crucial phase as a hearing is scheduled for today. Judge Amy Jackson has signed multiple orders clearing pending motions, including an amicus brief from USDC issuer Circle. Binance is seeking to dismiss the lawsuit, claiming that the SEC overstepped its authority. The outcome of this case will have significant implications for both Binance and the broader crypto industry.
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