Cryptocurrency News Today TheBitTimes.com

Binance, the crypto exchange, and its CEO, Changpeng Zhao have filed a joint motion to dismiss the lawsuit filed by the U.S. Securities and Exchange Commission (SEC). SEC exceeded its powers On Sep. 21, the U.S. District Court received a statement from Zhao and Binance Holdings, arguing that the SEC exceeded its authority. In a 60-page petition, lawyers accused the regulator of failing to provide clear instructions on regulating the industry, leading to the retroactive imposition its authority on the sector. “The SEC pursues these novel theories retroactively, seeking to impose liability for sales of crypto assets that occurred as far back as July 2017, before the SEC provided any public guidance concerning cryptocurrency.” Court filing Binance lawyers believe the SEC is misinterpreting securities laws and wrongly applying them to crypto assets. You might also like: Binance.US agrees with SEC to avoid full asset freeze “In an attempt to gain regulatory po...

Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange. Bittrex, a crypto currency exchange, has made a notable move in its legal dispute with the United States Securities and Exchange Commission (SEC) by submitting a motion to dismiss the lawsuit filed against it. In its recent court filing, Bittrex argues that the SEC does not possess the necessary authority to regulate cryptocurrencies as securities unless explicitly granted by Congress. This assertion challenges the SEC's interpretation of existing securities regulations and seeks to establish a more defined regulatory framework that accommodates the distinct characteristics of digital assets. In its motion to dismiss, Bittrex has adopted a similar approach to Coinbase, aligning its arguments closely with those made by the larger cryptocurrency exchange. This alignment indicates a strategic move by Bittrex to capitalize on the robust legal fram...