In November, a U.S. judge determined that the crypto startup had infringed upon securities laws by offering its native LBC token for sale without obtaining registration from the SEC.
This submission is a proactive step taken by the cryptocurrency exchange to assert that the SEC's strategy fails to offer adequate regulatory direction for American crypto companies.
Commercial and central banks from China, Hong Kong, Thailand, the UAE, and Thailand participated in the pilot, which saw the issuance of more over $12 million in value.
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