Binance has submitted two documents in court in which it alleges the misconduct of the U.S. Securities and Exchange Commission (SEC). In the first document, the exchange is trying to dismiss a case involving the company and its former CEO Changpeng Zhao (CZ), and claims that the SEC has not provided convincing evidence that Binance tokens and services are securities or investment contracts. Binance also claims that the SEC's claims against the BNB token have expired, and that the company's actions outside the United States do not fall under the jurisdiction of the SEC.

In addition, the company believes that the SEC improperly applies securities laws to the BNB Vault and Simple Earn services. Binance demands a complete dismissal of the claim, since the SEC did not provide clear notification of its claims.

The company also demands the cancellation of the lawsuit against Zhao, since the SEC cannot prove his connection with American users and his role in the management of the company does not give grounds for charges within the jurisdiction of the SEC.

Earlier, in November, Zhao pleaded guilty to violating sanctions related to money laundering, and Binance agreed to pay fines. However, the SEC decided to continue the investigation and look for new facts that could lead to additional charges.

Binance is challenging this SEC decision, arguing that the SEC's notification is unlawful and does not contain a link between the agreement with the Department of Justice and the SEC's claims. The company also claims that the plea deals do not violate the Bank Secrecy Act.

Binance concludes that Zhao is subject to U.S. laws in connection with the DOJ case, but not under the jurisdiction of the SEC. The company demands a complete termination of the proceedings with the SEC.

Recall that the former CEO of Binance was banned from leaving the United States until a court hearing in February 2024 after pleading guilty to charges of violations in the fight against money laundering.