A court in the United States has given a group of investors a second chance to sue the Binance exchange
The US Federal Appeals Court has resumed hearings on a lawsuit by a group of investors against the world's largest cryptocurrency exchange Binance. Investors accuse the trading platform of violating U.S. securities laws by selling unregistered tokens.
In the spring of 2020, a group of investors filed a lawsuit in Manhattan District Court, accusing Binance of selling EOS, TRX, ELF, FUN, ICX, OMG and QSP tokens, which lost almost all their value too quickly.
According to the authors of the lawsuit and their lawyers, the tokens are securities and should have been registered on the exchange accordingly. The affected investors claim that Binance did not warn them about the significant financial risks associated with the tokens.
In May 2022, District Judge Andrew Carter decided to close the case against the exchange, declaring that Binance could not be considered an internal platform, it did not have strong ties in the United States to comply with securities laws.
Source: https://bits.media/sud-v-ssha-dal-gruppe-investorov-vtoroy-shans-zasudit-birzhu-binance/
