By Jonathan Stempel
NEW YORK, March 8 (Reuters) - A federal appeals court on Friday revived a lawsuit where investors accused Binance, the world's largest cryptocurrency exchange, of violating U.S. securities laws by selling unregistered tokens that lost much of their value.
In a 3-0 decision, Click here the 2nd U.S. Circuit Court of Appeals in Manhattan said investors in the proposed class action plausibly alleged that domestic securities laws applied because their purchases of tokens had become irrevocable in the United States once they paid for them.
Circuit Judge Alison Nathan said Binance's use of domestic Amazon computer servers to host its platform supported this outcome, given how Binance "notoriously denies the applicability of any other country's securities regulation regime."
The appeals court also said investors could pursue claims arising from purchases made within the year before they sued.
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