Fox Business reporter Eleanor Terrett posted on social media that in the latest development of the SEC's lawsuit against Binance, Judge Jackson said that the nature of a token can evolve over time, and even if a token was originally intended as a security, it does not mean that it will always remain a security.
Terrett pointed out that Judge Jackson may have been the first judge to officially mention the matter.
It said that (I) maintain that the asset that is the subject of a so-called investment contract is itself a'security 'because it moves forward in business and can be bought and sold by individuals on any number of exchanges and used in any way for an indefinite period of time, which marks a departure from the Howey framework, which is beyond the scope of the court's ruling. The industry and future buyers and sellers do not clearly distinguish whether tokens on the market are securities or non-securities.
US Judge: The nature of tokens may change, and the properties of securities may not always remain
2024-06-29 04:35:07
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