Judge Approves Binance.US to Invest Customer Assets in T-Bills

Even Binance wants a piece of the Treasury bills game. According to reports, Binance.US has received approval from a US judge to invest customer assets in US Treasury bills.

Judge Amy Berman Jackson of the US District Court for the District of Columbia signed an order on Friday that frees Binance.US from restrictions enforced by the US Securities and Exchange Commission (SEC).

The crypto will be transferred from Binance to a third-party custodian. Binance.US operator BAM will be allowed to invest certain customer fiat funds that are custodized at BitGo in US Treasury bills that mature on a rolling four-week basis.

Earlier this month, Judge Jackson ruled that crypto and secondary sales of Binance's BNB token are not securities, dismissing claims by the SEC.

The SEC previously claimed that 68 cryptocurrencies are securities. BNB and nine other cryptocurrencies were added to the list in June 2023 during its lawsuits against Binance and Coinbase for alleged securities violations.

Jackson ruled that the regulator failed to prove how secondary buyers of BNB purchased the tokens with the expectation of profits rather than for utility.

Binance Secures Win Against SEC as Judge Rules BNB Sales Are Not Securities

Binance and Coinbase are celebrating that a US Judge has ruled against the SEC about BNB being a security, based on the Howey test

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“The court held that the SEC failed to plead that purchasers in secondary market sales acquired BNB with an expectation of profits, rather than for other uses, which is a key criterion for passing the Howey test (a legal framework outlined by the Supreme Court to determine whether a transaction qualifies as an investment contract),” Jackson stated.