Judge Amy Berman Jackson however dismissed the SEC’s claim that BNB is traded illegally on secondary markets, citing the Ripple decision.
Cryptocurrency exchange Binance has failed to convince a United States court to dismiss most claims made against it by the country’s securities regulator.
Claims related to Binance’s staking program, the sale of BNB (BNB) afte its initial coin offering and anti-fraud violations will proceed, Judge Amy Berman Jackson stated in a June 28 court filing.
The security regulator’s claim that former Binance CEO Changpeng ‘CZ’ Zhao acted as a “control person” will proceed, as will its claim that Binance was obligated to register under the Exchange Act.