Court Upholds SEC’s Motion to Allow Amicus Briefs in Binance Case

In the Securities and Exchange Commission’s (SEC) lawsuit against Binance, CEO Changpeng Zhao, and subsidiary Binance.US, Judge Amy Berman Jackson has approved the filing of amicus briefs by Administrative Law Scholars and the New Finance Institute. The experts believe that the parties are likely to settle the lawsuit as the disputes between Binance.US and the SEC seem to be nearing a resolution.

Amicus Briefs

On November 20, 2023, Judge Jackson granted the motions filed by Administrative Law Scholars and the New Finance Institute to submit amicus briefs in support of the SEC’s opposition to Binance and Binance.US’s motion to dismiss the lawsuit. The amici believe that their arguments will offer the court a new and nuanced perspective on the issues involved in the case.

NFI Seeks Additional Time in Coinbase Lawsuit

The New Finance Institute (NFI) is also an amicus curiae in the SEC’s lawsuit against Coinbase. The NFI has requested additional time in the allotted four-hour arguments for the lawsuit, arguing that its arguments are distinct from those of the SEC. Coinbase and the SEC maintain that the arguments and positions presented by the amici are adequately addressed in their briefs.