From Investing.com: 2024-06-29 10:05:34

A federal judge allows majority of the SEC’s lawsuit against Binance to proceed, rejecting Binance’s attempt to have it thrown out. Allegations include artificially inflating trading volumes, diverting funds, and failing to restrict U.S. customers. SEC also accuses Binance of facilitating trading of unregistered securities.

Binance faces additional legal challenges after agreeing to a $4.3 billion settlement in November over illicit finance breaches. However, the recent ruling is seen as a win for the cryptocurrency sector, as the judge did not find that secondary sales of Binance’s tokens were not securities as claimed by the SEC.

Read more at Investing.com: Binance must face bulk of US SEC crypto lawsuit, judge rules By Reuters