The United States Securities and Exchange Commission (SEC) has asked the court to amend its complaint in its ongoing case against Binance, Binance.US, and co-founder Changpeng Zhao.
Case Context
In the SEC vs. Binance case, the request to amend the complaint was made in reaction to a district court judgment denying Kraken's petition to dismiss.
Updated Stance on 'Crypto Asset Securities'
Ripple's Chief Legal Officer Stuart Alderoty noted that the agency acknowledges that 10 tokens are not securities in and of themselves and regrets using 'crypto asset securities' in certain situations. As an example, SEC attached the judgment in the Kraken vs. SEC case, as well as a redlined PAC compared to the original complaint.
Binance's Response Deadline
In response to the SEC's request, Binance has until October 11 to submit a notice of consent or an objection. The agency continues its strategy of regulating through enforcement to maintain control over the cryptocurrency sector.
The SEC's latest request underscores the agency's ongoing efforts to regulate the cryptocurrency sector. Binance is expected to provide its response by the specified deadline.
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