The world's largest crypto exchange Binance and the U.S. Securities and Exchange Commission (SEC) kicked off their oral arguments before a federal judge in Washington, D.C., yesterday in a high-profile case that could help define how cryptocurrencies are regulated, Reuters reported. Binance has asked federal Judge Amy Berman Jackson to toss out a lawsuit the SEC filed alleging Binance broke its rules, and is expected to make its case for dismissal before her on Monday. The lawsuit is one of the last major legal challenges in the U.S. facing Binance. Last year, Binance agreed to pay $4.3 billion to settle with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches, founder Chanpeng Zhao pleaded guilty to breaking U.S. anti-money-laundering laws. But the SEC's case is still hanging over the exchange.
