tl;dr
Binance US is preparing for a legal battle against the SEC after a District Court ruling allowed the SEC's lawsuit to continue. The exchange remains confident in its compliance with US regulations and criticized the SEC's approach as "politically motivated." The Court dismissed some of the SEC's cla...
Binance US is gearing up for a legal battle against the SEC after a District Court ruling allowed the SEC's lawsuit to proceed. The exchange is confident in its compliance with US regulations and has criticized the SEC's approach as "politically motivated."
The Court dismissed some of the SEC's claims, marking a partial victory for Binance. However, the lawsuit will proceed with claims related to the exchange's staking program, BNB's ICO sales, and anti-fraud violations.
Binance US highlighted its commitment to serving US customers, complying with regulations, and maintaining 1:1 reserves for all customer assets. It criticized the SEC's "regulation by enforcement approach" and emphasized the lack of clear guidance from the regulator.
Despite the ongoing legal showdown, Binance remains confident in its position and believes the Court will validate its stance in due course.
In a partial victory for the exchange, the Court rejected some of the SEC's main claims, including those related to the secondary market sales of BNB tokens and the classification of Binance USD stablecoin as an investment contract.
However, the lawsuit will proceed with claims related to the exchange's staking program, BNB's ICO sales, and anti-fraud violations of the Securities Act.
The decision is seen as a critical moment in the ongoing battle between regulators and the crypto industry, setting limits on the SEC's regulatory authority over the crypto industry.
Despite the legal challenges, Binance Coin (BNB) continues to trade at $579.4 in the five-day chart, reflecting the resilience of the cryptocurrency amidst regulatory uncertainties.
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Industry: TRADE & SERVICES
Sector: SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION
Market Cap: 2129096000
Dividend Yield: None
Beta (5Y Monthly): None
PE Ratio (TTM): -0.17
EPS (TTM): 10.48
Earnings Date: -0.0158
Forward Dividend & Yield: 746228000, 10.03, 0
Ex-Dividend Date: 0.888
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Sector: Manufacturing
Industry: Miscellaneous Transportation Equipment
Market Cap: 4.29B
PE Ratio: 11.02
EPS: 2.61
ROI: 6.89%
Current Price: $150.53
Beta: 0.0459
Revenue: 8.576B
Operating Margin: 9.33%
Net Income Margin: -0.966%
Debt to Equity: -0.199
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Company Details
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Sector: Computer Peripheral Equipment
Market Cap: $40,427,500
Dividend Yield: N/A
EPS: -0.14
P/E Ratio: 1.396
Beta: -0.0677
Volume: 13,786,000
Average Volume: 7
Stock Price: $21.01
Performance: -0.047