KangaMoon Goes Live in Uniswap and BitMart As Whales Accumulate

KangaMoon, the popular Play2Earn gaming platform, has hit exchanges, with Uniswap and BitMart among the two major exchanges that have listed the token.

Binance, the world’s largest crypto exchange, has secured a landmark victory in its ongoing case with the US Securities and Exchange Commission (SEC).

In a ruling in the US District Court of Columbia on Friday, Judge Amy Berman Jackson dismissed several charges the SEC brought against Binance.

The SEC had alleged that Binance offered and sold digital asset securities without registering them with the agency, and that it failed to disclose material information to investors.

However, the court found that the SEC argument lacks merit. As such, the sale of Binance Coins is not classified as securities.

“The SEC’s theory is based on the premise that any asset that can appreciate in value is a security,” Judge Jackson wrote in her opinion. “But the Supreme Court has repeatedly rejected this expansive definition of a security.”

The SEC had also accused Binance of violating the Commodities Exchange Act (CEA) by operating an unregistered commodity exchange.

But the court dismissed this charge as well, finding that the SEC failed to show that Binance is a “commodity exchange” within the meaning of the CEA.

“The SEC’s CEA claim is based on the theory that Binance is a ‘commodity exchange’ because it offers trading in digital assets, which are commodities,” Judge Jackson wrote. “However, the CEA defines a ‘commodity exchange’ as a facility that brings together buyers and sellers of commodities for the purpose of trading.”

The court found that Binance does not meet this definition because it does not provide a facility for buyers and sellers to interact directly with each other. Instead, Binance trades digital assets on its own behalf, and customers enter into contracts with Binance, not with each other.

“As a result, Binance is not a ‘commodity exchange’ within the meaning of the CEA,” Judge Jackson wrote.

The SEC is expected to appeal the ruling.

The above is the detailed content of KangaMoon Goes Live in Uniswap and BitMart As Whales Accumulate. For more information, please follow other related articles on the PHP Chinese website!