Court Rules That BNB Sales, Cryptos Aren't Securities In SEC Case Against Binance

7/10/2024 2:15:01 PM

(MENAFN- Investor Brand Network) Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia recently ruled that
secondary BNB sales and crypto are not securities offerings . This ruling marks a notable victory for Binance as several claims from the U.S. Securities and Exchange Commission (SEC) were dismissed, according to Binance's announcement on July 2, 2024.

Binance stated ,“The court found that the SEC did not prove that buyers in secondary market sales obtained BNB with an anticipation of gain, which is necessary for meeting the Howey test criteria.” The Howey test, established by the Supreme Court, is used to decide if a transaction is an...

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