The US Chamber of Digital Commerce, a crypto advocacy group, is backing Binance in its fight against the U.S. Securities and Exchange Commission, which charged the crypto exchange’s American affiliate with various securities violations earlier this year. The group argues that the SEC is stifling financial innovation and creating a hostile regulatory environment by incorrectly labeling many crypto tokens as unregistered securities. Since Gary Gensler assumed his position as chair of the SEC, the Commission has levied dozens of enforcement actions against digital asset companies, including some of the world’s largest cryptocurrency exchanges. The Chamber filed an amicus brief in which they argued that tokens alone are not securities, and the markets where they are available to buy and sell are not securities exchanges. The court partially ruled against the SEC when they tried to claim that certain sales of XRP by the asset’s issuer qualified as unregistered securities offerings. This is good news for crypto exchanges and digital asset companies as it signals a more progressive stance towards crypto regulation. #CryptoRegulation #USChamberofCommerce #Binance #SEC
You can read more about this topic here: Decrypt: Binance Is Like a Grocery Store Selling Oranges and SEC Should Leave It Alone, Says Crypto Lobby Group
