Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

2025-05-20

Ethereum sees $ 205 million inflow after Pectra Upgrade Sparks Investor Confidence

2025-05-20

Milei closes Libra Task Force and investigates ties with its administration

2025-05-20
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

    2025-05-20

    BSCS Backs Backs AI-conducted shopping assistant in collaboration with Pulsebot AI

    2025-05-20

    Basic, BNB chain, Ethereum and others

    2025-05-20

    What are tokenized real-world assets? Put physical value on the chain with RWAS

    2025-05-20

    Basic kit transactions rise as DEX volume approaches $ 400 billion milestone

    2025-05-20
  • NFT

    Guild of Guardians leads with a huge volume of $ 796.62k

    2025-05-20

    Solana Meme Coin Ponke Set to release assembly objects, clothing via Jcorp Spinout

    2025-05-19

    The most popular collections of the moment on blockchain

    2025-05-18

    Raoul Pal sees NFT market exploding when Ethereum Bull Cycle is approaching

    2025-05-17

    Ethereum is at the top of the charts in weekly NFT sales with $ 44.7 million in sales volume

    2025-05-16
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    Milei closes Libra Task Force and investigates ties with its administration

    2025-05-20

    Ethereum -price flashes bullish signal, but can it flow through obstacles?

    2025-05-20

    XRP Price Eyes Winins, but technically suggests that upsides can be limited

    2025-05-20

    Bitcoin still cannot close daily candle above $ 106k after 8 failed attempts in 2025

    2025-05-20

    Solana (SOL) keeps land in tight reach – Traders looking at Directional Cue

    2025-05-20
  • Learn

    Types of Blockchain Layers Explained: Layer 0, Layer 1, Layer 2 and Layer 3

    2025-05-16

    Token vs. Coin: Key Differences You Must Know as a Beginner

    2025-05-15

    Inside Changelly: 10 years of steadfast support and compliance

    2025-05-15

    What Is Proof-of-Work (PoW)?

    2025-05-12

    What Is Proof-of-Authority (PoA)?

    2025-05-10
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»SEC and Binance face tough questions from judge in historic crypto case
SEC, Binance face tough questions from judge in landmark crypto case
Regulation

SEC and Binance face tough questions from judge in historic crypto case

2023-06-14No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

Court Transcripts of SEC v Binance Holdings, Incetc. have already begun to emerge, showing that arguments central to the crypto space are now being actively debated in US courts.

U.S. District Judge Amy Berman Jackson is presiding over the case between Binance, the world’s largest cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC), suing the exchange for large-scale securities fraud violations.

The SEC accused Binance and its founder, Changpeng Zhao, of “weaving an extensive web of deceit” through alleged market manipulation and cheating of regulators, shareholders and customers.

Yesterday’s hearing centered on the SEC seeking a temporary asset freeze and the repatriation of billions of dollars, alleging investor funds are at risk.

Questions from the SEC Fields Court

Judge Jackson is known for her meticulous handling of high-profile public corruption cases in recent years, including the prosecution of longtime Donald Trump advisers Paul Manafort and Roger Stone.

Her questioning of both parties in the Binance case suggested skepticism towards the arguments of both parties. She questioned the SEC’s approach of using an enforcement action rather than a rule-making process to establish national policies for regulating crypto-assets.

In response, the SEC pushed for the validity of its approach, citing longstanding rules and the need to act when laws are broken. “Because it’s the law, Your Honor,” replied SEC counsel Matthew Scarlato, pointing to the existing Howey test used to determine what constitutes a security.

In particular, Judge Jackson argued against the SEC’s distinction between “crypto-assets” and “crypto-asset securities,” the latter of which the SEC says meets the conditions set forth in the Howey test. However, when pressed to answer whether that would make simple “crypto assets” goods, the plaintiff objected, saying, “We’re not taking a position at this point.”

See also  Wonderfi, backed by Kevin O'Leary, merges to create the largest crypto platform in Canada

Binance under fire

Judge Jackson also opposed Binance’s defense, which alluded to a lack of regulatory clarity in the crypto industry. She questioned the relevance of this argument in court, stressing that such cases may be more suited to Congress than the judiciary.

In addition, she expressed concern about the alleged offshore transfers and the complex ownership structure of the entities that own BAM Trading, Binance’s US subsidiary:

“The government has said at this point that they have not seen evidence of offshore transfers from BAM Trading itself. But we have significant evidence of offshore transfers and we have the issue of the ownership of the individual defendants of the entities that own BAM Management, the parent company of BAM Trading. So there’s a lot of layers going on here and a lot of onions to peel to figure out who’s doing what.”

Significantly, Judge Jackson summarily rejected the argument that Binance could have been caught off guard, pointing not only to the Wells Notice the exchange received, but also to the public comments made by CEO Changpeng Zhao himself.

“Some of your claims claim to be shocked that the SEC thinks you trade securities and took this step. And part of the astonishment expressed in the pleas rang a little hollow in light of Defendant Zhao’s statements over the years, the fact that the SEC banned Binance from doing business in the United States in 2019. ”

The judge concluded her point by telling the defense, “You can quibble with the strength of the evidence … I probably don’t need much exaggeration on how shocking this is, and I probably don’t need to use the word ‘draconian’.” to belong. ‘ not anymore.”

See also  President Biden vetoes a bill that would have eliminated the controversial SEC crypto policy

As the crypto industry matures, the results of this watershed case will be closely watched by industry players, regulators and investors around the world.

Source link

Binance case Crypto Face Historic Judge questions SEC tough
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The Supreme Court of India calls for clear crypto guidelines not outright prohibition

2025-05-20

‘Very resilient’ American economy under three reasons that Fed will not lower in 2025: Yardeni Research

2025-05-20

SEC’s new interim watchdog Katherine Reilly to direct crypto fraud as a top priority

2025-05-20

US Senate to vote on brilliant Stabilecoin bill despite political gaps

2025-05-20
Add A Comment
Leave A Reply Cancel Reply

Top Posts

Bitcoin: How a wave on this front could be ‘dangerous’ for BTC

2024-03-16

Can Bitcoin break the wall of $ 102,350? Judgement …

2025-02-05

Is Ripple’s XRP Preparing For A Heavy Selloff? Here’s What To Expect From XRP Price Next

2023-08-10
Editors Picks

Could this cause a price tsunami?

2024-09-02

Ethereum price breaks $2,000 as the bulls take over the crypto market

2023-07-16

Top Altcoin Picks For Next Week: Ethereum (ETH), Litecoin (LTC) And Shiba Inu (SHIB) Are On The Way To Recovery

2023-08-27

Here is how Bitcoin touches this cycle $ 180,000, according to analyst who called 2021 top

2025-03-06
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

Arbitrum affects $ 1.5 billion volume milestone on Uniswap V4

Ethereum sees $ 205 million inflow after Pectra Upgrade Sparks Investor Confidence

Milei closes Libra Task Force and investigates ties with its administration

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$106,900.001.03%
  • ethereumEthereum(ETH)$2,521.760.24%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.35-1.30%
  • binancecoinBNB(BNB)$651.01-0.02%
  • solanaSolana(SOL)$167.980.97%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2258930.77%
  • cardanoCardano(ADA)$0.740.15%
  • tronTRON(TRX)$0.2683340.90%
  • suiSui(SUI)$3.891.46%
  • chainlinkChainlink(LINK)$15.67-0.50%
  • avalanche-2Avalanche(AVAX)$22.591.95%
  • stellarStellar(XLM)$0.2875330.51%
  • hyperliquidHyperliquid(HYPE)$26.12-1.56%
  • shiba-inuShiba Inu(SHIB)$0.000015-0.09%
  • hedera-hashgraphHedera(HBAR)$0.1946931.05%
  • unus-sed-leoUNUS SED LEO(LEO)$8.771.81%
  • bitcoin-cashBitcoin Cash(BCH)$393.580.46%
  • the-open-networkToncoin(TON)$3.082.09%
  • polkadotPolkadot(DOT)$4.671.97%
  • litecoinLitecoin(LTC)$93.84-4.58%
  • moneroMonero(XMR)$350.482.48%
  • bitget-tokenBitget Token(BGB)$5.15-0.69%
  • piPi(PI)$0.773.62%
  • pepePepe(PEPE)$0.000013-1.36%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • aaveAave(AAVE)$258.687.15%
  • uniswapUniswap(UNI)$5.960.65%
  • bittensorBittensor(TAO)$417.762.09%
  • nearNEAR Protocol(NEAR)$2.791.62%
  • aptosAptos(APT)$5.13-0.84%
  • okbOKB(OKB)$51.97-0.78%
  • ondo-financeOndo(ONDO)$0.942.07%
  • kaspaKaspa(KAS)$0.1107313.28%
  • internet-computerInternet Computer(ICP)$5.251.24%
  • ethereum-classicEthereum Classic(ETC)$18.34-0.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.898.58%
  • gatechain-tokenGateToken(GT)$21.50-0.43%
  • crypto-com-chainCronos(CRO)$0.0968641.03%
  • mantleMantle(MNT)$0.752.99%
  • vechainVeChain(VET)$0.0283521.44%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231489-0.41%
  • render-tokenRender(RENDER)$4.631.46%
  • ethenaEthena(ENA)$0.3770433.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.03%
  • algorandAlgorand(ALGO)$0.2234840.79%
  • arbitrumArbitrum(ARB)$0.3922120.66%
  • filecoinFilecoin(FIL)$2.850.07%
  • bitcoinBitcoin(BTC)$106,900.001.03%
  • ethereumEthereum(ETH)$2,521.760.24%
  • tetherTether USDt(USDT)$1.000.00%
  • rippleXRP(XRP)$2.35-1.30%
  • binancecoinBNB(BNB)$651.01-0.02%
  • solanaSolana(SOL)$167.980.97%
  • usd-coinUSDC(USDC)$1.000.00%
  • dogecoinDogecoin(DOGE)$0.2258930.77%
  • cardanoCardano(ADA)$0.740.15%
  • tronTRON(TRX)$0.2683340.90%
  • suiSui(SUI)$3.891.46%
  • chainlinkChainlink(LINK)$15.67-0.50%
  • avalanche-2Avalanche(AVAX)$22.591.95%
  • stellarStellar(XLM)$0.2875330.51%
  • hyperliquidHyperliquid(HYPE)$26.12-1.56%
  • shiba-inuShiba Inu(SHIB)$0.000015-0.09%
  • hedera-hashgraphHedera(HBAR)$0.1946931.05%
  • unus-sed-leoUNUS SED LEO(LEO)$8.771.81%
  • bitcoin-cashBitcoin Cash(BCH)$393.580.46%
  • the-open-networkToncoin(TON)$3.082.09%
  • polkadotPolkadot(DOT)$4.671.97%
  • litecoinLitecoin(LTC)$93.84-4.58%
  • moneroMonero(XMR)$350.482.48%
  • bitget-tokenBitget Token(BGB)$5.15-0.69%
  • piPi(PI)$0.773.62%
  • pepePepe(PEPE)$0.000013-1.36%
  • daiDai(DAI)$1.00-0.02%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • aaveAave(AAVE)$258.687.15%
  • uniswapUniswap(UNI)$5.960.65%
  • bittensorBittensor(TAO)$417.762.09%
  • nearNEAR Protocol(NEAR)$2.791.62%
  • aptosAptos(APT)$5.13-0.84%
  • okbOKB(OKB)$51.97-0.78%
  • ondo-financeOndo(ONDO)$0.942.07%
  • kaspaKaspa(KAS)$0.1107313.28%
  • internet-computerInternet Computer(ICP)$5.251.24%
  • ethereum-classicEthereum Classic(ETC)$18.34-0.64%
  • official-trumpOFFICIAL TRUMP(TRUMP)$13.898.58%
  • gatechain-tokenGateToken(GT)$21.50-0.43%
  • crypto-com-chainCronos(CRO)$0.0968641.03%
  • mantleMantle(MNT)$0.752.99%
  • vechainVeChain(VET)$0.0283521.44%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.231489-0.41%
  • render-tokenRender(RENDER)$4.631.46%
  • ethenaEthena(ENA)$0.3770433.60%
  • usd1World Liberty Financial USD(USD1)$1.00-0.03%
  • algorandAlgorand(ALGO)$0.2234840.79%
  • arbitrumArbitrum(ARB)$0.3922120.66%
  • filecoinFilecoin(FIL)$2.850.07%