Binance v. SEC Case: A district judge signed a key order in the case, taking into account the joint report filed by both parties and the US SEC’s motion to amend the original complaint. The court also issued a scheduling order extending the case until 2026, following the recent ruling in this important case regarding the virtual currency market.
Judge Amy Jackson approves SEC motion
According to the latest minutes order, Judge Amy Berman Jackson approved the US SEC’s request to amend the original complaint according to the use of “crypto-asset securities” in the lawsuit.
Prominent figures in the crypto community, including Ripple CLO Stuart Alderroti, reacted to this, saying that “crypto security” was a coined term. Instead of providing clarity to the crypto industry, the SEC continued to manipulate the courts, disobey the law, and twist the terms.
Court order against Binance and US SEC joint status report
According to the latest court filings, defendants Binance, BinanceUS, Changpeng Zhao and plaintiff U.S. Securities and Exchange Commission have agreed to conduct a fact-finding investigation into all allegations.
The arguments advanced pursuant to a previous order by Judge Jackson are as follows.
Binance’s BNB Initial Coin Offering (ICO) and continued sale of BNB after the ICO Claims against crypto exchanges regarding BNB Vault Allegations that BAM Trading offered and sold staking programs as investment contracts Binance and BAM Exchange Act lawsuit against Binance and Defendant Changpeng Chao as administrator of BAM Trading, alleging that Trading failed to register under the Act. BAM Management and BAM Trading violated anti-fraud provisions of the Securities Act.
The court will not discuss or rule on the dismissed claims, including secondary sales of BNB, sales of BUSD, and simple earns. Additionally, the court will not determine whether the 10 tokens, including SOL, ADA, and MATIC, are securities because they are not parties to the lawsuit.
Binance case extended until 2026
Judge Amy Jackson also signed an order to schedule discovery and depositions pursuant to a joint report filed by Binance and the US SEC.
The parties are scheduled to exchange initial disclosures by October 25th and defendants’ answers or arguments to the amended complaint due November 4th. Opposition to motions to dismiss and answer ends Dec. 26.
“The parties may now conduct discovery, including depositions, on all claims in the ongoing complaint pursuant to the Court’s June 28, 2024 Memorandum Opinion and Order.”
The production of documents and interrogatories is scheduled for July 18, 2025, and all fact-finding will conclude on November 21, 2025.
The court ordered depositions and expert discovery regarding the motion to be completed by March 27, 2026. Therefore, the proceedings in the Binance vs. SEC case are expected to continue until the end of 2026.
Meanwhile, BNB price analysis by CoinGape predicts a rise to $800. The price has increased by 1% in the past 24 hours and is trading at $594.52. The price trend is mostly flat, but expectations for a breakout are high.
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Varinder Singh
Varinder has 10 years of experience in fintech, with over 5 years dedicated to blockchain, cryptocurrency and Web3 development. A technology enthusiast and analytical thinker, he has shared his knowledge about disruptive technologies in over 5,000 news, articles, and papers. Together with CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He currently covers all the latest information and developments in the cryptocurrency industry.
Disclaimer: The content presented may contain the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.
