U.S. federal judge "is not inclined to believe" that the major questions doctrine applies to the SEC v. Binance case

ChainCatcher news, according to Blockworks, during a four-hour hearing held on Monday, Binance faced off against the U.S. Securities and Exchange Commission (SEC) in Washington, attempting to dismiss the charges brought against the exchange, its U.S. subsidiary, and former CEO Changpeng Zhao last summer. Binance's defense team called for the invocation of the major questions doctrine. This means that the court would not interpret congressional statutes as allowing agencies to make determinations on issues of "significant" political or economic importance.

Binance wrote in its motion to dismiss: "Given the broad nature of the SEC's statutory arguments, the stakes here are even greater than the significant impact on the cryptocurrency market." Judge Amy Berman Jackson acknowledged on Monday that the case has implications for the entire cryptocurrency industry. However, she still "leans against" believing that the major questions doctrine applies to this case.