Binance and former CEO Zhao Changpeng’s legal team has filed a motion to dismiss the U.S. Securities and Exchange Commission’s (SEC) amended lawsuit, arguing that digital assets do not inherently qualify as securities and that secondary market transactions are disti
nct from initial distributions. The motion also criticizes the SEC for its lack of regulatory clarity and its inconsistent enforcement approach, pointing to the agency’s recent withdrawal of its position on Ethereum (ETH) transactions falling under securities laws.
