- Judge Amy Berman Jackson approves amicus briefs by Administrative Law Scholars and New Finance Institute in the SEC lawsuit against Binance.
- This development suggests progress towards a resolution, with a public hearing set for January 19 on Binance.US’s motion to dismiss the lawsuit.
Court Advances in SEC Lawsuit Against Binance
In a pivotal development in the ongoing lawsuit between the U.S. Securities and Exchange Commission (SEC) and Binance, along with its CEO Changpeng ‘CZ’ Zhao and subsidiary Binance.US, Judge Amy Berman Jackson has approved the submission of amicus briefs by the Administrative Law Scholars and New Finance Institute.
Role of Amicus Briefs in the Legal Process
The amicus briefs filed by both entities support the SEC’s position against the motions by Binance and Binance.US to dismiss the lawsuit. These briefs are expected to provide the court with unique and distinct perspectives, potentially influencing the case’s trajectory. Notably, the New Finance Institute is also involved as an amicus curiae in a similar lawsuit against Coinbase, seeking additional time for its arguments which it claims differ from those of the SEC.
Implications for Binance and the SEC
This court order signifies a movement towards a resolution in the legal dispute. CoinGape Media previously reported that Binance and the SEC had filed a joint motion for a protective order regarding confidential information produced following a June 17 consent order. This collaboration indicates that disputes related to document discovery and depositions between Binance and the SEC are nearing conclusion, and proceedings are progressing smoothly.
Upcoming Public Hearing: A Decisive Moment
A crucial public hearing is scheduled for January 19 to consider Binance.US’s motion to dismiss the lawsuit. This hearing is critical as it could lead to either a summary judgment or a potential settlement in the case.
Conclusion: A Turning Point in the Legal Battle
The approval of amicus briefs by Administrative Law Scholars and New Finance Institute marks a significant development in the SEC’s legal battle against Binance. With the court set to consider these expert opinions, the upcoming public hearing in January may provide clarity on the future course of this high-profile lawsuit. As the cryptocurrency industry closely watches, this case could set important precedents for the regulatory environment surrounding digital assets.