CandleFocus Binance SEC Lawsuit: Court Issues Major Order on BNB, BUSD
2024-10-18
Author: Content Editor
In the ongoing Binance SEC lawsuit, the U.S. District Court for the District of Columbia has issued an order allowing the SEC's claims against Binance's native token, BNB, to proceed. The court will investigate whether Binance violated securities regulations by failing to register BNB as a security. The court also allowed claims related to Binance's operation and BNB Vault to proceed. However, the court did not allow the SEC's claims concerning Binance's stablecoin, BUSD, to move forward at this stage. The court emphasized the importance of compliance with U.S. securities laws and warned both parties to avoid unnecessary legal maneuvering. Further discovery disputes will be referred to Magistrate Judge Zia M. Faruqui.
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