The post Paradigm Accuses SEC of Overstepping in Binance Lawsuit: Report appeared first on Coinpedia Fintech News
Crypto venture capital firm Paradigm has accused the US Securities and Exchange Commission (SEC) of overstepping its authority and trying to “change the law while circumventing the rulemaking process” in the ongoing lawsuit against Binance. The SEC sued Binance in June, alleging that it had violated securities laws by not being registered as an exchange, broker-dealer, or clearing agency. In an amicus brief, Paradigm argued that the SEC’s stance “would upend what we know about securities law in several critical ways” and that certain assets, such as gold, silver, and fine art, were not deemed securities, so offering them for sale did not constitute a security.
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