The Chamber of Digital Commerce has joined forces with other digital asset companies, legal entities, and lawmakers to challenge the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance. The Chamber argues that the SEC is overstepping its authority by attempting to regulate the crypto industry without explicit direction from Congress. In support of Binance, Binance.US, and CEO Changpeng “CZ” Zhao, the Chamber has submitted an amicus brief to halt the lawsuit, which it views as a heavy-handed approach that stifles innovation and drives crypto businesses to seek more favorable jurisdictions abroad. The SEC’s “regulation-by-enforcement” strategy, which seeks to classify digital assets as securities, is seen as a threat to the industry and its stakeholders. The Chamber contends that the SEC’s actions exceed its jurisdiction, digital assets should not automatically be considered investment contracts, and token transactions do not align with the requirements of the Exchange Act Registration. Binance.US has also expressed its dissatisfaction with the lawsuit and has cooperated selectively with the SEC, demonstrating its commitment to transparency.

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Information	Details
Geography	North America
Countries
Sentiment	neutral
Relevance Score	1
People	Changpeng Zhao, Cody Carbone
Companies	Chamber of Digital Commerce, SEC, U.S. Congress, Binance.US, Binance
Currencies	None
Securities	None