Clearly the media can write stories, but the court only certifies evidence | What do the dismissals of two recent anti-terror lawsuits against Binance by US courts represent?
Many people should have seen this lawsuit event last week, and many people saw headlines like this and their first reaction was: Binance is in trouble again!
But if we only look at the result, what is more noteworthy this time is not the fact that they were sued, but that the court did not support this set of accusations.
I specifically checked, the legal threshold for anti-terror lawsuits (ATA) in the United States is very high:
The plaintiff not only has to prove that the platform was used by terrorist organizations, but also has to prove that the platform was aware of it and assisted, and even has to prove a causal relationship with specific attacks.
The court's dismissal basically means: the evidence did not reach this level, so it will be dismissed.
In my impression, similar incidents happen with Binance once or twice a year: almost every once in a while, the market will bring up regulatory risks, historical issues, and political pressures to retell the old narratives about Binance.
The media likes such news, so it gets amplified, even if they are cooperating fully on this regulatory matter and spending a lot of money in this sector to fix and even rebuild to comply with regulations,
but actually, I feel that this might also be part of the legalization process for the crypto industry? The path is very similar to the internet back in the day:
1️⃣ Wild growth;
2️⃣ Government crackdowns;
3️⃣ Huge fines;
4️⃣ Rebuilding order amidst controversy;
5️⃣ Becoming infrastructure
Binance is likely now transitioning from stage 4 to stage 5, I'm curious what everyone thinks,
thinking from a different perspective, this is an industry that once grew wildly, now paying a high price to complete a round of cleansing that must be undergone before being accepted by the mainstream world.
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