SEC Hit, US District Court Dismisses Claim that the BNB Token is a Security

IconCryptoNewsTerminal Staff29 Aug, 2024

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SEC Hit, US District Court Dismisses Claim that the BNB Token is a Security

US District Judge Amy Berman Jackson has dismissed the Securities and Exchange Commission’s [SEC] claim that sales of the digital asset in the secondary market were securities. The SEC previously sued Binance and its former CEO Changpeng Zhao, alleging that the BNB token was a security. Judge Jackson had previously stated in June that “the character of the token can change over time, and just because it was offered and sold as a security initially does not require a conclusion that it remains one.”