Circle admitted by judge as amicus curiae in SEC vs. Binance lawsuit: Report

The orders to pass the pending motion come just a day before the key hearing between Binance and the SEC on Oct. 12.

signed multiple orders to clear pending motions in the ongoing lawsuit filed by the U.S. Securities and Exchange Commission against crypto exchange Binance ahead of a crucial hearing.Circle, at the time, Circle said that buyers of these stablecoins do not expect any profit from acquiring them. According to Circle, payment stablecoins do not have the “features of an investment contract” on their own.

Jackson accepted Circle as amicus curiae in support of neither Binance nor its CEO Changpeng Zhao’s motions to dismiss the lawsuit. The court also reminded that the amicus curiae may only participate in oral argument after the court’s permission. An amicus curiae is a person or group that is not a party to the legal dispute but is permitted to assist the court by providing information, expertise or insight on the case. The court has the power to decide whether to consider an amicus brief.) tokens. The SEC also claims that Binance failed to register as a broker-dealer clearing service and operated illegally in the United States., alleging that the SEC had overstepped its powers.

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