Fox Business reporter: Crypto industry wins major victory in clarity on secondary market digital asset sales

Fox Business reporter Eleanor Terrett wrote on X that in the latest development of the SEC's lawsuit against Binance, the crypto industry has won a major victory in the clarity of secondary market digital asset sales. Judge Amy Berman Jackson said, "... the government's reliance on the claim that 'crypto assets are a manifestation of investment contracts' and its arguments at the hearing about the nature of technology, platform interdependence, and the performance of each token are not enough to put BNB's secondary sales into the category of investment contracts alone. In addition, the agreement is inconsistent with the single theory that the government has been advancing since the lawsuit was filed: We are not saying that these tokens are securities-we are talking about investment contracts." Earlier today, a federal judge dismissed part of the U.S. SEC's lawsuit against Binance and its founder CZ, but allowed other charges to continue, including those against Binance.US. Late Friday, District Court Judge Amy Berman Jackson of the District Court for the District of Columbia ruled that the SEC's ICO, BNB, BNB Vault, pledge services, unregistered and fraud charges against Binance can continue. She granted Binance and CZ’s motion to dismiss charges related to secondary BNB sales and Simple Earn.