© Reuters.
WASHINGTON – The United States Securities and Exchange Commission (SEC) recently cited a major court ruling against Terraform Labs to support its action against cryptocurrency exchange Binance. The SEC is urging the court to deny Binance’s motion to dismiss the charges against it.
The regulator draws parallels between the Terraform Labs case and its allegations against Binance. The precedent in question concerns a decision by Justice Jed Rakoff, who held that the UST digital asset should be considered an investment contract and therefore falls under securities law. The SEC argues that this classification is relevant to the services provided by Binance, suggesting that they should also be treated as securities.
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