According to ChainCatcher, as reported by Cointelegraph, a U.S. appeals court partially overturned the dismissal of a class action lawsuit against Binance.US, which alleges that the exchange illegally manipulated the price of the HEX token. A panel of three judges from the Ninth Circuit Court of Appeals overturned the district court's previous dismissal of the class action, stating that plaintiff Ryan Cox's claims against Binance.US and CoinMarketCap were reasonable.Cox first filed the class action in 2021, accusing Binance Capital Management and Binance.US of artificially limiting HEX's ranking on CoinMarketCap, the cryptocurrency price tracking platform owned by Binance. Cox claimed this led to a lower trading price for HEX, while Binance's own cryptocurrency ranked higher. In February 2023, a district court judge initially dismissed the lawsuit, ruling that Cox failed to establish any specific connection between activities in Arizona (the state where Cox originally filed the lawsuit) and Binance.US that could link Binance.US to the manipulation of HEX.In an opinion on August 12, the judges disagreed with the district court's initial conclusion that Cox must prove there was "sufficient minimum contacts" between Binance.US and Arizona for the court to establish personal jurisdiction.Additionally, the appeals court found that Cox's lawsuit presented reasonable allegations of price manipulation against Binance.US and noted that they have been sent back for reconsideration.

ChainCatcher news, according to the Montenegrin daily Vijesti, the Supreme Court panel of Montenegro will decide by this weekend whether to postpone the extradition of Terraform Labs co-founder Do Kwon to South Korea. The Office of the National Prosecutor of Montenegro has requested the Supreme Court to review the legality of the ruling made by the Montenegrin Court of Appeals and proposed to delay the execution of that ruling. The prosecutor's office believes that the ruling of the Court of Appeals violates the Law on International Legal Assistance in Criminal Matters.Previous news, according to Bloomberg, the Montenegrin Court of Appeals upheld the ruling that Terraform Labs Pte. co-founder Do Kwon should be sent back to his home country of South Korea, thereby rejecting the suggestion to extradite him to the United States.

ChainCatcher news, according to Cointelegraph, recently, a U.S. appeals court overturned a regulation by the U.S. Securities and Exchange Commission (SEC) that required hedge funds and private equity firms to increase transparency regarding fees and expenses. The court found that this move exceeded the authority granted by Congress. This case strikes a blow against the regulatory agency's claims of congressional authorization over the industry. In recent years, outspoken critics of this regulatory agency within the cryptocurrency industry have raised similar criticisms.On June 5, the Fifth Circuit Court of Appeals ruled against the SEC, stating that it "exceeded its statutory authority." The 656-page regulation required funds to publish quarterly reports, conduct annual audits, and prohibited preferential treatment for certain investors. Six industry groups questioned whether the regulation would increase compliance costs and alter the operational model of the industry. Bill Hughes, a senior attorney at ConsenSys, stated that the SEC's performance over the past three years has been out of sync. In the cryptocurrency space, the SEC believes that many cryptocurrencies fall under its regulatory purview as securities, but cryptocurrency companies argue that the SEC lacks the authority to regulate unless explicitly authorized by Congress.

ChainCatcher news, according to Digital Asset, the High Court of Podgorica, the capital of Montenegro, stated that "the decision to extradite Terraform Labs founder Do Kwon to the United States may be overturned again."Marija Rakovic, a public information officer at the High Court of Podgorica, said, "The appellate court has overturned the high court's extradition decision twice. If Do Kwon appeals the recent extradition decision again, the appellate court may overturn the high court's decision to extradite him to the United States once more." He added, "We do not intend to predict the appellate court's ruling, but rather (in principle) indicate our position on this possibility."