Legal
Binance Case Again Testing Extent of SEC’s Power Over Crypto
- Judge hears oral arguments in case on Monday in Washington
- Crypto giant and SEC clash over whether tokens are securities
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A US federal judge pressed the Securities and Exchange Commission on its stance on cryptocurrencies in the regulator’s high-profile case against Binance Holdings Ltd.
Amy Berman Jackson, a judge in the US District Court for the District of Columbia, asked the SEC to define a boundary for what it considered a security in regards to virtual tokens. The SEC under Chair Gary Gensler has argued that most crypto assets fall under the agency’s jurisdiction and are subject to its rules.