The US Supreme Court ruled today that a class action lawsuit against Binance will proceed. The suit is filed by former investors who accused the exchange of illegally selling unregistered tokens.
Binance claimed that the lawsuit was invalid as the US did not have jurisdiction over the issue. However, the Supreme Court rejected this argument today.
US Supreme Court Spurns Binance
Binance, one of the world’s leading crypto exchanges, is currently facing several legal battles. In the UK, the exchange is facing allegations of unlawfully terminating an employee after whistleblowing on misconduct. However, the current class-action lawsuit in question is filed by consumers in the US.
It claims that Binance failed to warn users about the significant risks of investing in certain low-cap tokens. According to reports, Binance claims these accusations are meritless and the securities law is inapplicable as the…
