Paradigm calls SEC lawsuit against Binance an 'attempt to change the law'
What happened? Cryptocurrency venture capital firm Paradigm has issued a statement in connection with the US Securities and Exchange Commission (SEC) lawsuit against Binance. The regulator accuses the crypto exchange of operating without registering as an exchange, broker-dealer or clearing agency, as well as offering unregistered securities. Paradigm officials said the SEC's lawsuit "attempts to change the law by circumventing the rulemaking process."
What else is known? As part of the lawsuit, the SEC classified more than a dozen altcoins as securities based on the Howey test, which determines whether an asset is an investment contract.
#binance #CryptoNews #BTC $BTC $ETH
What happened? Cryptocurrency venture capital firm Paradigm has issued a statement in connection with the US Securities and Exchange Commission (SEC) lawsuit against Binance. The regulator accuses the crypto exchange of operating without registering as an exchange, broker-dealer or clearing agency, as well as offering unregistered securities. Paradigm officials said the SEC's lawsuit "attempts to change the law by circumventing the rulemaking process."
What else is known? As part of the lawsuit, the SEC classified more than a dozen altcoins as securities based on the Howey test, which determines whether an asset is an investment contract.
#binance #CryptoNews #BTC $BTC $ETH