The U.S. Securities and Exchange Commission (SEC) on Monday defended its regulatory authority over certain cryptocurrency assets in a legal confrontation with crypto exchange Binance BNB/USD, as the latter urged a federal judge to dismiss the agency’s lawsuit against it.

What Happened: The hearing centered around Binance’s request for dismissal marks a pivotal moment in the ongoing debate over the SEC’s jurisdiction in the crypto sector, Reuters reported.

Binance has formally requested U.S. Judge Amy Berman Jackson to reject a lawsuit filed by the SEC, which accuses the exchange of rule violations and fraud, Reuters reported. 

This lawsuit represents one of Binance’s significant legal…

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