{"id":29220,"date":"2024-09-14T10:30:01","date_gmt":"2024-09-14T07:30:01","guid":{"rendered":"https:\/\/coinengineer.net\/blog\/?p=29220"},"modified":"2024-09-14T09:26:28","modified_gmt":"2024-09-14T06:26:28","slug":"sec-shifts-gears-in-binance-lawsuit-leaving-crypto-world-scratching-its-head","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/sec-shifts-gears-in-binance-lawsuit-leaving-crypto-world-scratching-its-head\/","title":{"rendered":"SEC Shifts Gears in Binance Lawsuit, Leaving Crypto World Scratching Its Head"},"content":{"rendered":"<p>The plot thickens in the ongoing legal battle between the <a href=\"https:\/\/coinengineer.net\/blog\/sec-chairman-gary-genslers-speech-notes-leaked\/\">SEC<\/a> and crypto giant Binance. The regulatory agency recently requested a revision to its lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao. This move comes after a court ruling denied a similar dismissal request from another crypto exchange, Kraken.<\/p>\n<p>The SEC&#8217;s change of heart seems to stem from a desire to avoid a definitive ruling on the classification of specific cryptocurrencies as securities. Ripple&#8217;s Chief Legal Officer, Stuart Alderoty, pointed out this shift, highlighting the SEC&#8217;s regret over using the term &#8220;crypto asset securities&#8221; in certain instances.<\/p>\n<p>The proposed revision aims to remove this specific terminology from the lawsuit, suggesting a more cautious approach from the SEC. This has sparked debate within the crypto community. Some, like Coinbase&#8217;s CLO Paul Grewal, see it as an admission of missteps by the SEC, particularly regarding their past claims that certain tokens like SOL or ADA were securities.<\/p>\n<p>Binance now has until October 11th to respond to the SEC&#8217;s request. Their decision, whether a consent or an objection, will be closely watched as it could impact the future of crypto regulations. The SEC&#8217;s revised approach, however, raises questions about its overall strategy for controlling the crypto market. Is enforcement still the preferred method, or could we see a shift towards clearer regulatory frameworks? Only time will tell.<\/p>\n<p><em>You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our\u00a0<a href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>Telegram,\u00a0<\/strong><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\"><strong>YouTube<\/strong><\/a>,\u00a0and\u00a0<a href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;25009&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Coinbase and SEC Case Come Close to End&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The plot thickens in the ongoing legal battle between the SEC and crypto giant Binance. The regulatory agency recently requested a revision to its lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao. This move comes after a court ruling denied a similar dismissal request from another crypto exchange, Kraken. The SEC&#8217;s change of heart seems<\/p>\n","protected":false},"author":1,"featured_media":26505,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[514,22,39,1527],"class_list":["post-29220","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-ada","tag-binance","tag-sec","tag-sol"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC Shifts Gears in Binance Lawsuit, Leaving Crypto World Scratching Its Head - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/sec-shifts-gears-in-binance-lawsuit-leaving-crypto-world-scratching-its-head\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC Shifts Gears in Binance Lawsuit, Leaving Crypto World Scratching Its Head - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"The plot thickens in the ongoing legal battle between the SEC and crypto giant Binance. The regulatory agency recently requested a revision to its lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao. This move comes after a court ruling denied a similar dismissal request from another crypto exchange, Kraken. 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