Secondary market resales of crypto assets long after they were first distributed by their developers are not “securities” transactions, lawyers for Binance and its former CEO argued.
Binance continues its battle against the United States securities regulator amid allegations of violations related to certain cryptocurrencies.
Legal defense for Binance and its former CEO Changpeng “CZ” Zhao has filed a motion to dismiss an amended complaint by the US Securities and Exchange Commission.
In the motion filed on Nov. 4, lawyers for Binance and CZ asked the court to dismiss the SEC’s latest lawsuit update targeting additional tokens such as Axie Infinity Shards (AXS).
