Binance.US assures that the SEC has nothing against it and that they will fight in court – DiarioBitcoin

According to the team of Binance.US, the SEC abuses its powers and has no real charges against the exchange, which is why they are prepared to fight back and prove their point in court.

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• Binance.US She assures that she is prepared to fight in court against the SEC
• They claim to have been victims of the regulations of the SEC, which has exceeded its functions
• They claim that they have followed due process in compliance with the laws, so there are no real charges against them.

The dispute continues in court between Binance.US and the Securities and Exchange Commission (SEC), And now that the judge has ruled that the dispute will continue, the exchange indicated that it is prepared to fight against the agency because they have duly complied with the rulings originally set out, so there are no real charges against them.

Binance.US will give battle against the SEC

This was highlighted by the team of Binance.US In a message published today through their X account, where they defend that they have always followed the due process established by the SEC in its “limited guide” for the cryptocurrency industry. “It is unfortunate that we, like many companies in our industry, have fallen victim to SEC regulation through an enforcement approach and politically motivated overreach under its current leadership.”the company wrote.

On Friday, the Court decided that the SEC’s case against https://t.co/AZwoBOh0gq will continue. We were prepared for this and look forward to having this case move forward in the judicial process.https://t.co/AZwoBOh0gq was established with the express purpose of serving United…

— Binance.US 🇺🇸 (@BinanceUS) July 1, 2024

Regarding the ongoing case, Binance.US indicates:

From here, the case will move toward further discovery. In particular, the SEC has yet to identify any evidence of wrongdoing by Binance.US during the extensive 11-month discovery process we have been involved in to date.

They reiterate that “The SEC’s case is not supported by the facts or the law, and that [la agencia] lacks the authority it seeks to exercise to present” these compliance measures. They trust that the court will support their case and bring to light the irregularities committed.

The dispute continues

As such, the SEC took action against Binance.US last year, alleging that the entity, as well as the international exchange and its former CEO, Changpeng Zhao (CZ), had violated federal securities laws.

The accusations include the marketing of unregistered securities, the lack of separation of funds from Binance.US with respect to Binance, as well as the lack of controls to prevent US residents from operating through Binance International.

Despite Binance.US is ready to give battle with the SEC, The exchange reached a settlement with US authorities for $4 billion to resolve serious allegations. As a result, Zhao resigned from the exchange’s management and board position and is currently serving a four-month sentence in a California prison.

Reports indicate that the lawsuit against Binance.US had significant consequences for the company. Beyond the reputational blow to its US operations, the company had to lay off around 200 employees to cut costs and thus assume the costs associated with the ongoing legal process.

Article by Angel Di Matteo / Bitcoin Diary

Image by Unsplash

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