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Highlights
- Judge Amy Berman Jackson granted major orders in Binance Vs SEC lawsuit setting schedule for further claims.
- Discovery and depositions in Binance case to continue until 2026.
- The court will not rule on securities claims on 10 tokens including SOL, ADA, and MATIC.
Binance Vs SEC Lawsuit: A district judge has signed key orders in the lawsuit in light of the joint report submitted by the parties and the US SEC’s motion to amend the original complaint. The court has also issued a scheduling order extending the lawsuit to 2026 after the recent ruling in this major case for the crypto market.
Meanwhile, the court filing shows the agency has filed its amended complaint against Binance.US, Binance, and Changpeng Zhao with jury demand filed.
Judge Amy Jackson Approves SEC Motion
According to the latest minute order, Judge Amy Berman Jackson approved the US SEC’s request to amend the original complaint in response to the use of “crypto asset securities” in the lawsuit.
Crypto community personalities including Ripple CLO Stuart Alderoty reacted and said “crypto asset security” is a made-up term. The SEC continued to manipulate the courts, disobeyed laws, and twisted terms instead of providing clarity to the crypto industry.
Court Order on Binance and US SEC’s Joint Status Report
Defendants Binance, BinanceUS, and Changpeng Zhao and plaintiff the US Securities and Exchange Commission agreed to conduct fact discovery on all claims, as per the latest court filing.
The arguments proceeding as per an earlier order by Judge Jackson are:
- Binance’s initial coin offering (ICO) of BNB and the ongoing sales of BNB after the ICO
- Claim against crypto exchange regarding BNB Vault
- Claim that BAM Trading offered and sold its Staking Program as an investment contract
- Claims that Binance and BAM Trading failed to register under the Exchange Act
- Claims against defendant Changpeng Zhao as a control person over Binance and BAM Trading
- BAM Management and BAM Trading violated the anti-fraud provisions of the Securities Act.
The court will not discuss or rule on claims that were dismissed, including secondary sales of BNB, sales of BUSD, and Simple Earn. Also, the court will not decide whether 10 tokens including SOL, ADA, and MATIC are securities as they are not parties in the case.
Binance Case Extended to 2026
Also, Judge Amy Jackson signed a scheduling order for discovery and depositions as per a joint report submitted by Binance and the US SEC.
The parties will exchange initial disclosures by October 25, with defendants’ answers or pleadings in response to the amended complaint due on November 4. The opposition to any motion to dismiss and replies will conclude on December 26.
“The parties may now conduct fact discovery, including depositions, on all claims in the complaint that are proceeding pursuant to the Court’s June 28, 2024 Memorandum Opinion and Order.”
The production of documents and interrogatories is scheduled for July 18, 2025, with all fact discovery to close on November 21, 2025.
The court ordered that depositions and expert discovery on the claims will close by March 27, 2026. Thus, the proceeding in the Binance vs SEC lawsuit is expected to continue until 2026-end.
Meanwhile, BNB price analysis by CoinGape predicts a rally to $800. The price is trading at $597, up nearly 4% in a week. The price action is mostly sideways range bound this month, but hopes of a breakout remain high due to rising activity in the derivatives market.
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