Appeals Court Revives Lawsuit Against Binance for Alleged Securities Law Violations

Appeals Court Revives Lawsuit Against Binance for Alleged Securities Law Violations



A United States federal appellate court has reactivated a lawsuit directed at the cryptocurrency exchange Binance, as reported by Reuters on March 8. This litigation, initiated by investors, alleges that Binance circumvented U.S. securities regulations by offering unregistered tokens, which subsequently depreciated significantly in value.



The appellate court has permitted investors to advance claims for purchases made up to a year prior to the lawsuit's filing. The dispute involves seven specific tokens — aelf (ELF), EOS (EOS), FUNToken (FUN), Icon (ICX), OMG Network (OMG), Quantstamp (QSP), and Tron (TRX) — all of which were acquired through Binance starting in 2017 and experienced a dramatic loss in value shortly thereafter.



Investors have accused Binance of not disclosing the "significant risks" associated with these tokens, ai


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#Altcoin, #Binance, #Bitcoin, #Blockchain, #Cryptocurrency, #Cryptomarket, #Cryptonewstoday, #Ethereum, #News, #Regulations

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