Binance Exchange is on track to face a class action lawsuit as its attempt and that of its founder Changpeng ‘CZ’ Zhao to quash it failed at the U.S Supreme Court level. The Justices of the Supreme Court, declined to hear the appeal, giving the investors room to prove their claims at lower courts.

The Binance and Numerous Legal Hurdles

According to the sponsors of class action lawsuit, Binance sold assets as investment contracts which later fell in value. Following the filing of the suit, the crypto exchange sprung into action and alongside CZ to challenge the notion. Notably, the Send U.S. Circuit Court of Appeal initially ruled that the disputed transactions fell under the U.S laws.

The trading platform challenged this hearing whose fate has now been sealed by the Supreme Court.

This is a developing story, please check back for updates!!!

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Godfrey Benjamin

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.

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