A federal court in the United States has ruled that cryptocurrencies and secondary sales of the BNB token are not considered securities, marking a significant victory for the crypto industry. Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia dismissed multiple claims made by the U.S. Securities and Exchange Commission (SEC). This ruling is seen as a positive development for other ongoing legal battles, including the SEC vs. Ripple lawsuit. The judge’s decision states that cryptocurrency tokens themselves are not securities and therefore do not fall under the jurisdiction of the SEC. However, the focus should be on the circumstances of each token sale. This decision comes as a relief for investors, as the SEC previously classified 68 cryptocurrencies as securities, including BNB. The SEC had sued Binance and Coinbase in June 2023 for alleged securities violations. Binance was charged with violating Anti-Money Laundering laws and settled to pay a $4.3 billion fine. The next court hearing for the Binance vs. SEC case is scheduled for July 9. Binance.US, the U.S. wing of the largest exchange in the world, has expressed its readiness for a prolonged legal discovery period.
In the legal showdown between the SEC and Binance the judiciary has decreed that BNB sales and other cryptocurrencies do not constitute securities