SEC Requests Consideration of Terra Ruling in Binance Case

The United States Securities and Exchange Commission (SEC) has filed a motion in federal court urging the judge to consider a summary judgment in its case against cryptocurrency exchange Binance. The SEC referenced a recent ruling in a case against Terraform Labs and its co-founder Do Kwon, where the judge largely sided with the SEC, considering specific tokens as securities. The SEC argues that the Terra case’s analysis is relevant to its case against Binance, emphasizing the similarities in issues related to stablecoins and staking programs. Binance and its former CEO Changpeng Zhao had filed a motion to dismiss the SEC’s case in September. (Source: Cointelegraph)