2nd Circ.'s Binance Locus Test Adds Risk For Blockchain Cos.

Securities Enforcement Defense attorneys Andrew Balthazor and Jessica Magee and Data attorney Shardul Desai co-authored a Law360 article discussing the U.S. Court of Appeals for the Second Circuit reversing the district court's dismissal of a private securities class action against the Binance Holdings Ltd. cryptocurrency exchange. The authors wrote that reviving this case and sending it back to the district court for further litigation signals an increased risk that decentralized businesses will be subject to U.S. securities laws based on the location of their infrastructure or customers in the U.S.

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