- The Binance-SEC court hearing has been rescheduled for January 22 (Monday) at 10.00 AM. EST due to extreme weather conditions.
- MartyParty draws parallels between the upcoming Binance-SEC hearing and the recent Coinbase-SEC hearing.
- The judge will decide whether to have a full trial or to completely dismiss the case after listening to both parties.
According to recent reports, the US Court in Washington has rescheduled Friday’s court hearing over the SEC-Binance lawsuit due to extreme weather conditions. The hearing, rescheduled for January 22 (Monday) at 10.00 AM. EST, will address the regulators’ allegations against Binance and the platform’s defending arguments.
Previously, in June 2023, the Securities and Exchange Commission (SEC) sued Binance with 13 charges, including offering unregistered securities and controlling its US branch, BAM Trading. Following a series of dramatic developments, including Changpeng Zhao’s resignation, Binance is preparing for the court hearing.
MartyParty, a prominent voice in the blockchain sector, shared an X post on January 19, drawing parallels between the upcoming SEC-Binance hearing and the recent Coinase-SEC hearing. The tweet asserted that the judge will decide whether to have a full trial or to completely dismiss the case after listening to both parties.
In the recent Coinbase-SEC hearing, Judge Katherine Polk Failla questioned the SEC for their non-comprehensive definitions of securities. As the judge wasn’t satisfied with the regulator’s statements, she demanded a clear view on whether and when digital assets are securities.
As per MartyParty’s tweet, the Binance would also take a similar path in the hearing as that of Coinbase. The lawyers representing Binance would argue, “Crypto assets offered on the platform are not securities and are not under the jurisdiction of the SEC.” The tweet added,
Additionally they will defend charges of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.
The SEC’s charge against Binance is just one among the many lawsuits the regulators have imposed upon crypto assets and platforms. The crypto community has strongly criticized them for their anti-crypto stance. However, Binance and Coinbase cases are expected to bring revolutionary developments in the crypto sphere, helping shape the SEC’s autocratic authority.
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