Paradigm: SEC overstepped its authority in Binance case and tried to change the law

Odaily Planet Daily News Crypto venture capital firm Paradigm submitted an amicus brief in the US SEC’s ongoing case against Binance, accusing the SEC of “circumventing the rule-making process.” Paradigm noted: "The SEC is attempting to use the disturbing allegations raised in its complaint to change the law while circumventing the rulemaking process. The SEC is clearly overstepping its authority, and we oppose this approach." "There are a large number of assets that are promoted, bought and sold for their potential profit potential, but are repeatedly not considered securities in their own right," Paradigm said in the briefing. Gold, silver and art, for example, can increase in value, but this does not does not mean that selling them constitutes a security. (The Block)