Paradigm files an amicus brief with the court opposing the U.S. SEC’s lawsuit against Binance

BlockBeats news, on September 30, Paradigm has submitted an amicus brief in the case of the U.S. Securities and Exchange Commission (SEC) against Binance, its affiliate Binance.US, and founder CZ, accusing the U.S. SEC of Over-regulation, saying the SEC is trying to circumvent the rulemaking process and rewrite the law and exploit "disturbing allegations" in its lawsuit against Binance and its co-defendants. Paradigm states that the approval sought by the SEC would mean that U.S. courts accept the SEC's theory that an "investment contract" does not necessarily require a "contract." Paradigm points out that this theory is wrong because case law clearly states that investment contracts require contractual agreements. A commitment to the future appreciation of an asset.