Binance Defense Gains Momentum As Experts Question Terra Ruling’s Impact
The SEC filed a notice of supplemental authority citing the judgment in SEC v. Terraform Labs as a significant precedent in its case against Binance, Binance.US, and former CEO Changpeng ‘CZ’ Zhao. Legal expert Bill Morgan argues that the Terra ruling may not be directly relevant to the SEC’s case against Binance and Coinbase. The SEC contends that the Terra case’s interpretation of the “investment contract” definition within cryptocurrency offerings is directly relevant to the products and services offered by Binance, including BUSD, BNB Vault, and the Simple Earn program. Bill Morgan challenges the notion that the Terra ruling directly applies to the SEC’s case against Binance and Coinbase, maintaining that the tokens and services fall outside the purview of securities law. The court will need to carefully consider the facts and legal arguments presented by both sides to determine the applicability and persuasive value of the Terra ruling in the ongoing legal proceedings.
