Binance, U.S. Affiliate, Changpeng 'CZ' Zhao filed to dismiss a (SEC) lawsuit

Husires

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Quote from: zasad@ on September 22, 2023, 07:33:13 AM

This is a continuation of a long saga
https://bitcointalk.org/index.php?topic=5439961.80

The American division of the Binance exchange no longer operates; pressure was put on the Binance exchange in many countries, but nevertheless the exchange operates in other countries.
Binance cooperates with all governments and tax authorities. Think about why the US wants to destroy Binance so much?

I did not know that there were ongoing discussions and updates in one topic, I will lock this topic and you can update coindesk.

Quote from: Woodie on September 22, 2023, 10:59:14 AM

Nn the first place why did SEC not only sue Binance but included CZ the proprietor himself in the lawsuit??? Thought Binance is an LLC which limits liability and the like and should protect CZ legally 🤔

Binance as an entity or limited liability company is not known or explained. The people and management are the only ones that are famous or appear to the media, so I fear that it is similar to FTX. The market is stable and may be the reason for down prices in 2025.

Woodie

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Rollbit.com ⚔️Crypto Futures

This legal battle keeps getting interesting.
Nn the first place why did SEC not only sue Binance but included CZ the proprietor himself in the lawsuit??? Thought Binance is an LLC which limits liability and the like and should protect CZ legally 🤔

Whatever is going on, hope this doesn't drag on for a long time as this has the potential to bring down the markets If Binance is thrown under the bus with this lawsuit...though a win means green markets to follow...

zasad@

legendary

Activity: 1736

Merit: 4270

This is a continuation of a long saga
https://bitcointalk.org/index.php?topic=5439961.80

The American division of the Binance exchange no longer operates; pressure was put on the Binance exchange in many countries, but nevertheless the exchange operates in other countries.
Binance cooperates with all governments and tax authorities. Think about why the US wants to destroy Binance so much?

Husires

legendary

Activity: 1582

Merit: 1284

Quote

The SEC sued Binance, Zhao and Binance.US in June, alleging they illegally listed unregistered securities in the form of several cryptocurrencies for trading and investment by U.S. investors.

"The SEC recently brought several enforcement actions – including this action – premised on its new position that virtually all crypto assets, and virtually all cryptoasset transactions, are securities," one of the filings said.

The agency was defining the term "investment contract" too broadly, one of the filings said.

Binance, Binance.US and Changpeng Zhao filed to dismiss a Securities and Exchange Commission (SEC) lawsuit Thursday, claiming the regulator hadn't "plausibly alleged" various securities-related violations, and that it was seeking to encompass digital assets under its authority despite Congress not explicitly spelling that out in legislation.

https://www.coindesk.com/policy/2023/09/22/binance-us-affiliate-changpeng-cz-zhao-file-to-dismiss-sec-lawsuit/

The recent victories have emboldened those who want to put pressure on the SEC and generated strong arguments for what is known as "major questions doctrine," which could lead Congress to perhaps limit the SEC’s reach, or at least reduce its restrictions.
I believe that if these lawsuits continue and more are successful, the SEC will be less cautious in similar cases such as ETFs

Topic: Binance, U.S. Affiliate, Changpeng 'CZ' Zhao filed to dismiss a (SEC) lawsuit (Read 52 times)