The First District Court of Appeal in Florida has ruled in favor of Binance US, the subsidiary of cryptocurrency exchange Binance, in its appeal against the Emergency Suspension Order (ESO) issued by the Florida Office of Financial Regulation (OFR). The OFR had revoked Binance US’s money-services company license and ordered it to cease all money transmission activities. However, the court found that the OFR did not provide sufficient evidence to support its conclusion that Binance US posed a threat to public safety and welfare. The court also criticized the ESO for not considering alternatives to license suspension and noted that the suspension had resulted in a significant drop in trading volumes for Binance US.