The US court has accepted the Securities and Exchange Commission's (SEC) request to submit an extended briefing, following the dismissal of a lawsuit against Binance, Changpeng Zhao, and Binance US.
SEC May Extend Explanation Period
The SEC has sought permission to exceed the typical page limit under local rules, citing the complexity of decisions and multiple legal arguments. Judge Amy Jackson granted the SEC's request, allowing them to provide a combined response not exceeding 70 pages. This extension gives the SEC additional leeway to address legal points posed by both defendant groups in the ongoing Binance case.
Binance's Defense Arguments
Dismissal requests submitted by Binance Holdings Limited, Changpeng Zhao, and BAM Trading Services Inc. are currently deemed invalid. Defendants filed separate requests to dismiss the revised accusations from the SEC early in November. Binance argued that the legal arguments within the SEC’s 90-page presentation were too numerous.
Will BNB Coin Achieve a New Record?
As the rest of the crypto industry surged following Donald Trump's victory, Binance's native BNB Coin remained relatively stable due to recent decisions in the lawsuit. However, BNB maintained its position at the critical support level of $600. At press time, the BNB price was down 1.5%, trading at $620 and dropping below a $90 billion market cap.
The US court has approved the SEC's request for additional clarification in the Binance case. The price movements of BNB Coin have been influenced by the lawsuit.
