The SEC plans to amend Binance’s complaint, avoiding a ruling on third-party crypto asset values

The US Securities and Exchange Commission (SEC) plans to amend its original complaint against Binance, which could eliminate the need for the court to rule on tokens that were previously classified as securities.

The joint filing comes amid presidential candidates’ efforts to woo pro-crypto voters in the United States.

The SEC moves to amend the complaint

The SEC filing on July 30 reveals that it has notified Binance, its US subsidiary and founder Changpeng Zhao, of its intention to amend its complaint, particularly with regard to “Third Party Crypto Asset Securities.” thus negating the need for a judicial decision. on these allegations at this time.

“The SEC informed the defendants that it intends to seek leave to amend its complaint, including with respect to “third-party crypto asset securities,” as defined in the opposition motion to SEC Defendant No. 172, obviating the need for the Court to rule on the sufficiency of these pleadings at this time.

The latest filing represents a change in the SEC’s approach compared to November’s omnibus opposition in which the securities regulator claimed that Binance offered and sold several “Third Party Crypto Asset Securities” such as Cardano (ADA) , Solana (SOL), Filecoin (FIL). ), Polygon (MATIC), Algorand (ALGO), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Axie Infinity (AXS) and COTI, as investment contracts. The regulator then argued that these assets qualified as securities under the Howey test.

The debate over these tokens intensified during a July 9 hearing when Binance’s lawyers argued that Judge Amy Berman Jackson’s June 28 ruling implied that these tokens were excluded from the SEC’s case. The judge, however, clarified that this was not his intention.

Trump’s campaign promises against Democratic policy changes

Recent changes in US attitudes toward crypto reflect evolving political strategies. On July 27, former President Donald Trump promised to end regulatory restrictions on crypto and proposed making the country a global hub for digital assets. He also promised to replace SEC Chairman Gary Gensler and establish a crypto advisory board.

Meanwhile, Democratic lawmakers are advocating for a progressive stance on digital assets, and Vice President Kamala Harris’ team is working to strengthen connections with the crypto industry and repair years of damage.

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