Binance vs. SEC: Judge shows skepticism on BUSD as investment contract
The highly anticipated hearing of the SEC’s lawsuit against Binance occurred today in Washington, as the trial revealed several challenges for the leading exchange. Last year, the SEC accused Binance and its U.S. arm of multiple violations, including inflating trading volumes, misusing customer funds, and misleading investors about market controls, further complicating the crypto regulatory landscape. In presiding over the case, Judge Berman Jackson took a direct approach, bypassing prepared arguments and asking incisive questions. Her skepticism about the necessity of a contract in an investment contract , drawing on the “scheme” language from the landmark Howey case, set a critical tone for the proceedings. SEC v. @Binance hearing, Update I Judge Berman Jackson has dispensed with the prepared arguments and gone straight to questions. She started with the defense team. -She seemed skeptical that an investment contract actually requires a contract . -She focused o...