Binance, a major cryptocurrency exchange, is facing a lawsuit from the United States Securities and Exchange Commission (SEC) for allegedly selling unregistered securities and operating as an unlicensed exchange in the country. In response, Binance has filed a motion to dismiss the lawsuit, arguing that the SEC’s interpretation of securities laws is flawed and that the suit exceeds the regulator’s authority. However, the SEC has rejected Binance’s arguments, stating that the exchange has never complied with federal securities laws and deliberately chose to operate as an unlicensed exchange. The SEC also criticized Binance’s comparison of cryptocurrencies to supermarket items and claimed that the exchange’s crypto sales are investment contracts. Additionally, the SEC rebuffed Binance’s argument that the lawsuit violates the major questions doctrine, which other crypto firms have used to challenge the SEC’s authority. The regulator warned that granting Binance’s dismissal request would undermine decades of securities laws and replace them with a rigid framework. Overall, the SEC is standing firm in its allegations against Binance and is determined to enforce securities laws in the crypto industry.

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Information	Details
Geography	North America
Countries	🇺🇸
Sentiment	negative
Relevance Score	1
People	Changpeng Zhao
Companies	Binance.US, Binance, Howey test, U.S. Supreme Court, SEC
Currencies	BUSD, BNB
Securities	None