A U.S. district court has given the SEC an opportunity to submit more detailed briefings in its lawsuit involving Binance.
Why the SEC Requested More Pages
The SEC justified its request by citing the intricate nature of the case and the variety of legal arguments presented. Judge Amy Jackson approved the SEC’s appeal, allowing the response to be as long as 70 pages.
Impact on BNB Coin Price
Despite a broader rally in the cryptocurrency market, BNB Coin has remained stable due to ongoing legal proceedings. Currently, BNB is trading just below $620, following a recent test of the $600 support level. Analysts predict a possible 150% increase if current trends continue.
Key Aspects of the Ongoing Case
- The SEC has been granted more time to provide detailed arguments. - Binance and its affiliates did not oppose the SEC’s request. - The latest developments significantly impact BNB Coin's performance as market participants closely watch the situation.
The ongoing legal proceedings continue to have a significant impact on the cryptocurrency market outlook and BNB Coin's value.
