US Supreme Court Declines Binance’s Appeal in Token Sales Case
- The US Supreme Court declined Binance’s appeal regarding a lawsuit on token sales.
- The lawsuit, filed in 2020, alleges Binance did not warn investors about token risks.
- Investors purchased tokens such as ELF, EOS, and FUN in 2017.
- An appeals court found evidence of domestic transactions based on server location and investor activities in the US.
- Binance argues it is not subject to US securities laws as it is not a US-based company.
The Supreme Court’s decision allows investors to proceed with their case against Binance, which could lead to potential damages or restitution if the court rules in favor of the investors.
