A federal appeals court has reopened a class action against Binance, the world’s largest cryptocurrency exchange, for selling unregistered tokens that had lost significant value.

The 2nd U.S. Circuit Court of Appeals ruled in a 3-0 decision that domestic securities laws applied because Binance’s purchases of tokens became irrevocable in the US once paid for them.

The court argued that Binance’s use of domestic Amazon computer servers to run its platform justified this.

The appeal concerned investors who had purchased seven tokens through Binance since 2017, all of which had lost significant value.

Binance claimed that U.S. securities regulations do not apply to it.