A Massive Day For Crypto in the Courts
The Breakdown
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Binance's Response to the SEC's Complaint
The only crypto product available on Binance US which the SEC claimed ought to be considered an unregistered security is the B&B token. The defense argues that the SEC failed to establish a valid investment contract exists for B&B as required under the howie test. Today's hearing was not intended to decide the entire case instead it was only to decide whether the SEC is entitled to impose such severe restrictions before presenting their entire case to the court Fox Business journalist Eleanor Tarritt writes Binance has responded to the SEC's complaint.
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