TechFlow news, on November 5, according to Coindesk, lawyers representing Binance and its former CEO Changpeng Zhao are again attempting to dismiss the Securities and Exchange Commission's lawsuit against them. They filed a motion to dismiss the amended complaint submitted by the SEC last month.
They argue that while the amended complaint merely "verbally" acknowledges a previous court ruling stating that crypto assets themselves are not securities, it refuses to accept the logical conclusion of that ruling—that reselling these assets on secondary markets long after developers' initial distribution is not a "security" transaction. Instead, the SEC's amended complaint continues to assert that nearly all transactions involving crypto assets (including blind secondary market resale of tokens) are securities transactions because some buyers may hope the asset’s value will appreciate.
