Binance, a major cryptocurrency exchange, encountered a setback as a United States court declined to dismiss several claims brought against it by the Securities and Exchange Commission (SEC). In a court filing on June 28, Judge Amy Berman Jackson specified that claims concerning Binance’s staking program, the initial coin offering of BNB, anti-fraud violations, and the SEC’s assertion that former CEO Changpeng “CZ” Zhao acted as a “control person” will proceed. Additionally, the court ruled that Binance should have been registered under the Exchange Act. However, Judge Jackson did dismiss claims related to secondary market sales of BNB and transactions
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