Binance’s US Affiliates Can Be Sued for Coin Manipulation (1)

The Binance.US cryptocurrency exchange and an affiliated token-ranking website can be sued over their alleged suppression of a competitor’s digital asset, the Ninth Circuit ruled Monday.

Personal jurisdiction under the Commodity Exchange Act doesn’t hinge on satisfying the statute’s venue provision, Judge Marsha S. Berzon said for a unanimous panel of the appeals court. The act authorizes nationwide service of process independent of the venue requirement, she said.

The decision partly reverses a dismissal by the US District Court for the District of Arizona, which said that a lack of contacts with that state defeated HEX token holder Ryan Cox’s ...