Legal battle between Binance and SEC continues

The ongoing legal case between Binance and the SEC took center stage as arguments were presented in court. Binance, like Coinbase, argued for the dismissal of the case early on, claiming that crypto tokens should not be subject to securities law. However, Judge Amy Jackson appeared less willing to give Binance the benefit of the doubt and questioned their arguments. The focus of the case is on BNB, with the judge indicating that it was initially offered as a security but expressed uncertainty about secondary sales. The case highlights the SEC's need for a clear limiting principle in their legal theories and the significant implications for the crypto market.