Binance is seeking to compel arbitration for all members involved in the class-action lawsuit claiming it sold unregistered securities, emphasizing the agreement users made by accepting its terms of service.
Previously, a federal judge dismissed this case in March 2022, but the Second Circuit overturned that decision in 2024. Binance continues to face increasing legal challenges related to its operations.
In 2023, the Securities and Exchange Commission sued Binance, resulting in a settlement of 4.3 billion USD, and a new class action was filed against it in Canada in April 2024.
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