Warning: unlink(/tmp/jnewslibrary-X8QEji.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142
Binance Wins Day in Court, US Judge Dismisses Lawsuit | Coinparative
Coinparative

  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀
No Result
View All Result
  • About Us
  • Contact
  • jeet-detector-bot
    JDB(JDB)
    $0.00-0.61%
  • bitcoin
    Bitcoin(BTC)
    $0.003.63%
  • ethereum
    Ethereum(ETH)
    $0.006.38%
  • usdex-stablecoin
    USDEX(USDEX)
    $0.00-0.53%
  • tether
    Tether(USDT)
    $0.000.050%
  • binancecoin
    BNB(BNB)
    $0.006.74%
  • usd-coin
    USD Coin(USDC)
    $0.00-0.02%
  • ripple
    XRP(XRP)
    $0.003.98%
  • binance-usd
    Binance USD(BUSD)
    $0.000.070%
  • cardano
    Cardano(ADA)
    $0.007.85%
  • dogecoin
    Dogecoin(DOGE)
    $0.003.93%
  • matic-network
    Polygon(MATIC)
    $0.0015.01%
  • okb
    OKB(OKB)
    $0.0012.55%
  • solana
    Solana(SOL)
    $0.0011.18%
  • staked-ether
    Lido Staked Ether(STETH)
    $0.006.44%
  • polkadot
    Polkadot(DOT)
    $0.0011.99%
  • shiba-inu
    Shiba Inu(SHIB)
    $0.0010.97%
  • litecoin
    Litecoin(LTC)
    $0.006.12%
  • avalanche-2
    Avalanche(AVAX)
    $0.0017.33%
  • tron
    TRON(TRX)
    $0.004.71%
View All
Coinparative
Home News

Binance Wins Day in Court, US Judge Dismisses Lawsuit

April 2, 2022
in News
250 2
A A
0
Binance Wins Day in Court, US Judge Dismisses Lawsuit
Share on FacebookShare on Twitter

Major crypto exchange Binance won a battle in court on Thursday.

A federal judge in the USA dismissed a lawsuit accusing the exchange giant of violating US securities laws by selling unregistered tokens and failing to register as an exchange or broker-dealer, Reuters reported.

The judge said that the investors sued the exchange too late, given that they waited more than one year after their purchases to file, it added.

Furthermore, Binance is not a domestic exchange, and even it is using the technology based in the US and Amazon computer service – domestic securities laws do not apply, according to the judge.

Founded in 2017, Binance is said to be registered in the Cayman Islands.

Per the judge,

“Plaintiffs must allege more than stating that plaintiffs bought tokens while located in the US and that title passed in whole or in part over servers located in California that host Binance’s website.”

Crypto investors involved with the lawsuit had brought this lawsuit against the world’s largest crypto exchange by trading volume, claiming that Binance “wrongfully engaged in millions of transactions” and that it failed to warn them about the “significant risks” of buying the nine tokens in question. They sought to get back what they paid, said the report, citing a 327-page-long document.

These investors claim to have bought EOS, QSP, kyber network (KNC), tron (TRX), FUN, icon (ICX), OMG, LEND, and ELF on Binance starting in 2017, but these coins soon lost much of their value, leading to the group’s decision to file the lawsuit.

Meanwhile, as reported earlier, Binance secured a license from the Central Bank of Bahrain to operate as a cryptoasset service provider in Bahrain, expanding to the Arab Gulf States. Also in March, Binance said it was granted a Virtual Asset License from Dubai’s Virtual Asset Regulatory Authority, which will allow it to operate within Dubai’s “test-adapt-scale” virtual asset market model as a base for expansion into the region.

At 7:30 UTC, the 4th cryptoasset by market capitalization BNB was trading at USD 424. It was down almost 5% in a day, trimming its weekly gains to almost 2%.

____


– Class Action Lawsuits Lodged against Binance, BitMex, Tron and More
– Binance Investigations

– Binance Enters GRAMMY
– Coinbase Reportedly Nears Mercado Bitcoin Purchase as Binance Readies Rio Expansion

– Binance’s Crypto Payments
– BNB Won’t Hit ATH This Year but Might Reach USD 2,500 by 2030 – Survey

Source: Crypto News

Share196Tweet123Share34Pin44ShareSend

Related Articles

Giant Bitcoin ‘Taproot Wizard’ NFT Minted in Collaboration With Luxor Mining Pool
News

Giant Bitcoin ‘Taproot Wizard’ NFT Minted in Collaboration With Luxor Mining Pool

February 2, 2023
1.4k
Biggest Movers: AVAX Hits Highest Point Since August, Following 17% Jump
News

Biggest Movers: AVAX Hits Highest Point Since August, Following 17% Jump

February 2, 2023
1.4k
World Champ Boxer Savannah Marshall Partners With Fight Out Move-to-Earn Platform That’s Raised Nearly $4 Million
News

World Champ Boxer Savannah Marshall Partners With Fight Out Move-to-Earn Platform That’s Raised Nearly $4 Million

February 2, 2023
1.4k
Bitfinex sends $8.5M in crypto to Alameda’s wallet in last 24 hours
Blockchain News

Bitfinex sends $8.5M in crypto to Alameda’s wallet in last 24 hours

February 2, 2023
1.4k
Join the Future with C+Charge – The Next Big Thing in EV Charging!
News

Join the Future with C+Charge – The Next Big Thing in EV Charging!

February 2, 2023
1.4k
UK Crypto Industry Celebrates Government’s Planned Exemptions for Crypto Ad Approvals
News

UK Crypto Industry Celebrates Government’s Planned Exemptions for Crypto Ad Approvals

February 2, 2023
1.4k
Load More

Discussion about this post

Coinparative

2022 © All Rights Reserved.

Coinparative specializes in the digital News and research on cryptocurrency, Digital Assets and Blockchain

  • Advertise
  • Privacy Policy
  • Terms
  • About Us
  • Contact

Follow Us

No Result
View All Result
  • News
    • Crypto News
    • Blockchain News
    • Altcoin News
    • Press Release
    • NFT News
    • Metaverse
    • Web3.0 News
    • Trending
  • Insights
    • Explainer
    • Research
  • Guides
  • Market
    • Market analysis
    • Market News
    • Reviews
    • Price Index
  • Videos 🚀

2022 © All Rights Reserved.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
DON’T MISS OUT!
Subscribe To Newsletter
Be the first to get latest updates and exclusive content straight to your email inbox.
Stay Updated
Give it a try, you can unsubscribe anytime.
close-link
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.

Warning: unlink(/tmp/jnewsfirstload-sEPhtC.tmp): No such file or directory in /home/customer/www/coinparative.com/public_html/wp-admin/includes/class-wp-filesystem-ftpext.php on line 142