District Judge Amy Berman Jackson dismissed the U.S. SEC’s claim on Binance’s BNB secondary sales, aligning with Judge Torres’ ruling in Ripple vs. SEC that XRP secondary sales are not securities. This decision is a major precedent for ongoing crypto cases in the U.S.
Judge Torres had previously ruled that XRP sold on secondary markets did not qualify as securities, a stance now supported by Judge Jackson. This marks a significant moment in crypto regulation, providing clearer guidelines for the industry.
The ruling benefits major crypto exchanges like Coinbase, Kraken, and Consensys, offering them a stronger position in legal disputes. According to Coinglass data, XRP’s futures open interest has surged 0.62%, with significant buying on OKX and BitMEX.
The strategic importance of this ruling lies in its potential to reshape the legal landscape for crypto assets, offering clearer regulatory boundaries and fostering market stability.
