Binance Won The Case Regarding A US Law Violation

Binance, the world's largest cryptocurrency exchange by volume, has won the case regarding a US law violation.

A lawsuit filed in the USA against Binance, the world's largest cryptocurrency exchange, has come to a conclusion. The lawsuit, filed on the grounds that the cryptocurrency exchange violated securities laws in the country for selling unregistered tokens, was dismissed by the judge. Digital token investors who bought EOS, QSP, KNC, TRX, FUN, ICX, OMG, LEND and ELF tokens listed on Binance since 2017 sued the cryptocurrency exchange after losing most of their investments. Investors cited Binance's incorrect execution of millions of transactions and failure to warn them of the significant risks of purchasing tokens as the justification for the lawsuit. Judge Andrew Carter, who led the case, said that investors filed the case more than a year after receiving the tokens, and dismissed the case. In addition, Carter stated that Binance cannot be evaluated by local securities laws as it is not a local exchange.