Judge Amy Berman Jackson of the US District Court for the District of Columbia has ruled that cryptocurrencies and second-hand sales of BNB are not considered securities, marking another significant victory for the cryptocurrency industry.
In a notable success for Binance.US, the judge dismissed multiple complaints made by the US Securities and Exchange Commission, as announced by Binance on July 2.
The court determined that the SEC did not provide sufficient evidence that buyers in secondary market sales purchased BNB with an expectation of profits, rather than for alternative purposes.
This aspect is a critical factor in determining if a transaction falls under the Howey test, a legal framework established by the Supreme Court to determine if a transaction qualifies as an investment contract.
