Binance Pushes Back on SEC Lawsuit, Says Agency Hasn't Shown Key Elements to Sue Crypto Exchanges
• Binance, Binance.US, and CZ argue SEC hasn't met legal requirements to sue under Howey Test • Claim SEC hasn't shown exchanges' US customers had investment contracts or other elements of Supreme Court case • Latest bid to dismiss June lawsuit alleging Binance & Binance.US allowed unregistered securities trading • Argue SEC overreaching authority, similar to arguments in bid to dismiss CFTC suit • Push back against SEC citing DOJ settlement, say jurisidictional admissions under BSA don't bring claims under securities laws