Legal Battle Between Binance US and SEC

user avatar

by Giorgi Kostiuk

2 years ago

Made with AI

Legal Battle Between Binance US and SEC

Binance US, the American branch of the renowned cryptocurrency exchange, is gearing up for a substantial legal confrontation with the Securities and Exchange Commission (SEC). The company asserts its focus on adhering to regulatory protocols while scrutinizing the SEC's enforcement methodology.

Despite undergoing an exhaustive 11-month fact-finding phase, the U.S. entity asserts that the SEC has not yet pinpointed any incriminating evidence against it. In a recent communication, Binance US indicated its readiness for the forthcoming phase of legal deliberations, eagerly anticipating further exploration of the matter.

This recent development transpired subsequent to a ruling by a U.S. federal judge, who nullified a portion of the SEC's lawsuit against Binance and its chief, Changpeng Zhao. Nonetheless, the majority of allegations against Binance US still stand, encompassing accusations of potentially offering unregistered investment products and contravening anti-fraud statutes.

In its declaration, Binance US reiterated its dedication to compliance with the SEC's delimited directives. The SEC initially lodged the lawsuit in June 2023, leveling accusations against Binance, Binance US, and Zhao for various breaches of securities laws. Noteworthy is that Zhao is presently serving a custodial term following charges filed by the Department of Justice.

Tier I

Sector: #18291

Sealed Hiding Place Room

Resource Cache

Resource Cache

Tier I

Requires 25% Tier Progress to Claim
Meme Cache

Meme Cache

Tier I

Requires 50% Tier Progress to Claim
Equipment Cache

Equipment Cache

Tier I

Requires 75% Tier Progress to Claim

After collecting, hiding places will be stored in your inventory and can be opened with Keys.

Other news

MEGA Plans AI Marketplace Launch for December

MEGA is set to launch an AI inference marketplace in December, allowing customers to access services from various AI model providers.

user avatarNguyen Van Long

MEGA Reduces Workforce to Shift Focus to AI Products

MEGA has laid off 20 employees as part of a restructuring to expand into artificial intelligence, moving beyond its blockchain infrastructure.

user avatarKofi Adjeman

Institutional Withdrawals from Crypto ETFs Reach Over $1 Billion

Institutional demand for crypto ETFs has weakened significantly, with US spot Bitcoin ETFs experiencing over $1 billion in withdrawals for the second consecutive week.

user avatarJesper Sørensen

Ethereum Staking Hits Record Levels Despite Price Drop

Ethereum's staking rate has surged to an all-time high of 36.3% of total supply, even as the price of ETH has fallen to around $2,000.

user avatarRajesh Kumar

Jane Street Boosts Bitcoin ETF Holdings Amid Market Changes

Jane Street has significantly increased its stake in major Bitcoin ETFs, particularly in Fidelity's Wise Origin Bitcoin Fund, reflecting strong client demand and trading activity in the Bitcoin market.

user avatarLucas Weissmann

Satoshi Nakamoto Statue Unveiled in Vienna

Bitcoin Austria has unveiled a statue of Satoshi Nakamoto in Viertel Zwei, a lakeside business quarter in Vienna. This statue is part of a global initiative to place 21 identical Satoshi statues in 21 countries.

user avatarFilippo Romano

Important disclaimer: The information presented on the Dapp.Expert portal is intended solely for informational purposes and does not constitute an investment recommendation or a guide to action in the field of cryptocurrencies. The Dapp.Expert team is not responsible for any potential losses or missed profits associated with the use of materials published on the site. Before making investment decisions in cryptocurrencies, we recommend consulting a qualified financial advisor.