- Multiple rulings clearing outstanding motions were signed by Judge Amy Berman Jackson.
- Judge also accepted the assistance of amicus curiae Circle Internet Financial.
A significant hearing in the continuing legal battle between Binance, and the US SEC is likely to unfold today. The action has entered a pivotal point. And Judge Amy Jackson has issued several orders to clear outstanding motions. Including an amicus brief submitted by USDC issuer Circle.
Multiple rulings clearing outstanding motions in the U.S. SEC v. Binance litigation were signed by Judge Amy Berman Jackson on October 11, according to court documents. Regarding the requests to dismiss filed by defendants Binance and CEO CZ, Judge Jackson accepted the assistance of amicus curiae Circle Internet Financial, which takes the position of supporting neither side.
Ongoing Legal Pursuit
Moreover, Circle argued that stablecoins are not securities, that the SEC does not have jurisdiction over payment stablecoins. And that the SEC’s jurisdiction over payment stablecoins is undermined by legal and practical considerations.
In addition, the court stresses that participation in oral argument by an amicus curiae is strictly discretionary. Also, Lawyers Jeremy Grey, Mark W. Rasmussen, Heath P. Tarbert, Eric Tung, and Daniel Kaleba all had requests to appear pro hac vice for their clients approved by Judge Jackson. However, attorneys or at least one member of law firms must complete CM/ECF training, register for a CM/ECF user account, and consent to electronic filing.
Binance, its U.S. subsidiary, and CEO Changpeng “CZ” Zhao have all asked the court to throw out the SEC’s action against them. The defendants argued that the government body had exceeded its power. The SEC has made many claims, including that money from customers was mishandled, that investors and regulators were misled, and that securities laws were broken.
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