Binance is Supported by the US Chamber of Digital Commerce in its Fight Against the SEC.


The industry organization, like previous papers submitted in different instances, claims that the SEC’s interpretation of investment contracts is fundamentally erroneous

The US Chamber of Commerce has filed an amicus brief disputing the power of the US Securities and Exchange Commission in its dispute against Binance.

Stay in the know on crypto by frequently visiting Crypto News Today

According to the Chamber, the SEC’s enforcement-first policy not only stifles innovation but also drives market participants to migrate offshore to avoid uncertain regulatory conditions in the US.

The Chamber’s goal as a trade association is to encourage the acceptance and use of digital assets and blockchain technology. Based in Washington, DC, the organization is a public policy champion for the asset class and the underlying technology that supports it.

CryptoCaster Quick Check:

A key aspect of the Chamber’s argument distinguishes between what makes a “asset” and what constitutes a “investment contract.” It contends that tokens, which can represent a wide range of rights, are not investment contracts in and of themselves.


As a result, it contends that platforms trading these tokens should not be automatically classified as securities exchanges. This line of reasoning fundamentally contradicts one of the SEC’s main charges against Binance, which revolves around the platform’s operating as an unregistered securities exchange due to the platform’s listing of numerous digital assets.

Binance allegations

The SEC contends that the assets traded on Binance are securities under federal law, whereas Binance contends that they are commodities and hence outside the SEC’s jurisdiction.

Furthermore, the Chamber’s brief raises constitutional concerns, stating that the SEC’s unilateral, enforcement-only measures may violate the separation of powers and due process norms.


Such measures, according to the Chamber, may go beyond the SEC’s mission and violate constitutional standards that support American governance.

The SEC is asserting authority over a sizable portion of the economy that Congress did not intend for it to control, according to the Major Questions Doctrine, and this judgment raises serious questions about the separation of powers, it stated.

Even while the Chamber’s filing has little legal standing, its timing and impact may be crucial given that the exchange has come under increased regulatory scrutiny, not just in the US but also internationally.

The arguments made in the brief also highlight a mounting discontent among industry players who criticize the SEC’s regulatory strategy and scope.

Follow GappyCoin PreSale on Twitter, and ReCap for information and more.

Similar briefs were submitted in August in a different dispute involving Coinbase and the SEC to support the exchange.

Similar to Binance, the filings made the case that the SEC’s interpretation of a “investment contract” is fundamentally flawed and at odds with established legal precedent.🤔

They add that a court ruling in favor of the regulatory body might have major and widespread repercussions for the bitcoin industry.CRYPTOCASTER® - DECENTRALIZED FREEDOM!

We hope you appreciated this article. Before you move on, I was hoping you would consider taking the step of supporting CryptoCaster’s journalism. 

From  Elon Musk, Larry Fink(BlackRock) to Jamie Dimon(JP Morgan Chase) a number of billionaire owners have a powerful hold on so much of the hidden agendas’ which eludes the public concerning the paradigm shift juxtaposed by cryptocurrency and web3 emerging technologies. CryptoCaster is different. We have no billionaire owner or shareholders to consider. Our journalistic efforts are produced to serve the public interest in crypto development and institutional disruptions – not profit motives.

And we avoid the trap that befalls much U.S. and global media – the tendency, born of a desire to please all sides, to engage in false equivalence in the name of neutrality and retail consumer protection. While fairness and transparency dictates everything we do, we know there is a right and a wrong position in the fight against fiat global banking interest and monetary reconstruction precipitated by the emerging crypto ecology.

When we report on issues like the FTX, Binance and Ripple crisis, we’re not afraid to name who or what is uncovered. And as a crypto sentinel, we’re able to provide a fresh, outsider perspective on the global monetary disruption – one so often missing from the insular American and European media bubble. 

Around the world, readers can access the CryptoCaster’s paywall-free journalism because of our unique reader-supported model. That’s because of people like you. Our readers keep us independent, beholden to no outside influence and accessible to everyone – whether they can afford to pay for news and information, or not.

We thankyou for the on-going support our readers have bestowed monetarily. If you have not considered supporting CryptoCaster, if you can, please consider supporting us just once from $1 or more of Bitcoin (satoshi) or Eth, and better yet, support us every month with a little more. Scroll further down this page to obtain CryptoCaster’s wallet addresses.

Thank you.

Kristin Steinbeck
Editor, CryptoCaster

Please Read Essential Disclaimer Information Here.
© 2024 Crypto Caster provides information. does not provide investment advice. Do your research before taking a market position on the purchase of cryptocurrency and other asset classes. Past performance of any asset is not indicative of future results. All rights reserved.

Contribute to CryptoCaster℠ Via Metamask or favorite wallet. Send Coin/Token to Addresses Provided Below.
Thank you!
BTC – bc1qgdnd752esyl4jv6nhz3ypuzwa6wav9wuzaeg9g
ETH – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
MATIC – 0x7D8D76E60bFF59c5295Aa1b39D651f6735D6413D
LITECOIN – ltc1qxsgp5fykl0007hnwgl93zr9vngwd2jxwlddvqt


You may also like