Paradigm Accuses SEC of Circumventing Rulemaking in Binance Case: Amicus Brief Filed

The ongoing legal battle between the US Securities and Exchange Commission (SEC) and Binance, along with its US affiliate Binance.US, has taken a new turn. Crypto research firm Paradigm has filed an amicus brief directly addressing the heart of the matter.

Major venture capital firm Paradigm has strongly criticized the United States Securities and Exchange Commission (SEC) for what it believes is a bypass of established rulemaking processes. This accusation forms the core of their amicus brief.

Crypto venture capital firm Paradigm accused the Securities and Exchange Commission of circumventing the rulemaking process in a brief filed in the agency's ongoing case against Binance. The specific concerns revolve around the SEC's approach to classifying certain digital assets as securities without proper prior guidance or established regulations.

Crypto venture capital firm Paradigm has lashed out at the U.S. Securities and Exchange Commission (SEC) for circumventing the rulemaking process in their ongoing legal actions. They argue that the SEC's enforcement actions, in this and potentially other cases, precede and effectively replace the necessary public consultation and clarity that formal rulemaking would provide.

Venture capital firm Paradigm has criticized the United States Securities and Exchange Commission (SEC) for bypassing the standard rulemaking procedures in its case against Binance.US. This alleged circumvention raises questions about due process and the SEC's regulatory approach to the cryptocurrency industry.

The brief filed by Paradigm adds another layer of complexity to the SEC's case against Binance. It will be interesting to see how the court responds to these allegations of procedural impropriety.