Crypto exchange Binance wins dismissal of U.S. lawsuit over digital token sales

FILE PHOTO: A representation of the cryptocurrency is seen in front of Binance logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

NEW YORK (Reuters) - A federal judge on Thursday dismissed a lawsuit accusing Binance, the world's largest cryptocurrency exchange by trading volume, of violating U.S. securities laws by selling unregistered tokens and failing to register as an exchange or broker-dealer.

The lawsuit had been brought in Manhattan by digital token investors who had bought nine tokens - EOS, QSP, KNC, TRX, FUN, ICX, OMG, LEND and ELF - through Binance's online exchange starting in 2017, and which soon lost much of their value.