From Nasdaq:

A federal appeals court ruled against Binance in a class-action lawsuit filed by U.S. crypto investors, accusing the exchange of allowing them to buy and trade unregistered securities. The ruling highlights the application of U.S. laws to transactions on non-U.S. exchanges, setting a precedent for broader securities cases.

An appeals court revived a putative class-action lawsuit against Binance, emphasizing that U.S. laws apply to transactions on exchanges based outside the country. Despite Binance’s claims of being decentralized, the court ruled in favor of the group of crypto investors, setting a significant legal precedent with far-reaching implications for exchanges worldwide.

The appeals court ruling against Binance in a class-action lawsuit filed by U.S.-based crypto investors reaffirms the application of U.S. laws to transactions on non-U.S. exchanges. The judges’ decision sheds light on the regulatory scrutiny faced by global exchanges, bolstering the rights of investors and marking a significant development in securities laws enforcement.

Attorneys representing the Crypto Open Patent Alliance are conducting closing arguments against Craig Wright, while the Department of Justice will file briefs on Sam Bankman-Fried’s sentencing. Meanwhile, two Binance executives were detained by Nigerian authorities amid a local currency crisis, attributing blame to the exchange and crypto for the financial turmoil.



Read more at Nasdaq: How an Appeals Court Ruled on an Aspiring Class-Action Lawsuit Against Binance