US courts do not currently need to rule on whether third-party crypto assets allegations are sufficient

On July 7, the U.S. Securities and Exchange Commission (SEC) stated in a document submitted to the court that the SEC requested to modify the motion regarding "third-party crypto asset securities" in the lawsuit against Binance, and the court does not currently need to rule on whether the allegations of these tokens are sufficient. The defendants in the case, Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and Binance founder Zhao Changpeng, should submit a response agreeing or opposing the motion to modify within 30 days. If the defendant does not object, the U.S. Securities and Exchange Commission will begin further litigation proceedings.