Williams v. Binance

Class action suit against Binance for the offering, promotion, and sale of digital tokens on its platform. The plaintiffs allege that Binance failed to clearly disclose that these tokens were securities.

The 2nd Circuit ruled that U.S. securities laws apply to Binance because, under the Morrison standard, irrevocable liability attaches in the U.S. due to Binance’s Terms of Service and its use of U.S. servers. Morrison v. National Australia Bank Ltd., 561 U.S. 247 (2010).

1:20-cv-02803; No. 22-972