SEC Denies Binances Motion on US Securities: Viral Media Buzz!

By Lola Coin Jun 27, 202368Views

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A federal judge has dismissed Binance’s motion against the SEC regarding its statements on securities in the US. Binance had accused the SEC of misleading the public and causing confusion in the marketplace. However, the judge ruled that there was no need for intervention and that the SEC can continue making public statements related to the case. The lawsuit involves Binance.US, Binance Holdings Limited, and CEO Changpeng Zhao. The SEC had issued a press release stating that Binance could divert customer assets as they please, leading to the legal action. The CEO of Binance expressed relief over the unfreezing of assets for Binance.US and also praised Japan for enacting tax policies that incentivize crypto innovation. Japan has introduced a new tax exemption for token issuers, eliminating the 30% crypto tax on paper earnings.

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