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“Certainly, since 2019, Congress has thought of greater than a dozen proposals that would offer a coherent and workable framework for crypto belongings and their buying and selling platforms,” the submitting stated. “Critically, none of these proposals would confer sole regulatory jurisdiction over the crypto trade to the SEC. Regardless of this, the SEC now seeks to develop its authority and filed this lawsuit, asserting claims in opposition to Binance Holdings Restricted (‘BHL’) and Changpeng Zhao, amongst others.”
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