Binance Case Again Testing Extent of SEC’s Power Over Crypto

A US federal judge pressed the Securities and Exchange Commission on its stance on cryptocurrencies in the regulator’s high-profile case against Binance Holdings Ltd.

Amy Berman Jackson, a judge in the US District Court for the District of Columbia, asked the SEC to define a boundary for what it considered a security in regards to virtual tokens. The SEC under Chair Gary Gensler has argued that most crypto assets fall under the agency’s jurisdiction and are subject to its rules.

During a hearing Monday, Jackson said the SEC seems to be saying that all digital assets are securities. “How ...