• Dapps:16.23K
  • Blockchains:78
  • Active users:66.47M
  • 30d volume:$303.26B
  • 30d transactions:$879.24M

Legal Battle Between Binance US and SEC

user avatar

by Giorgi Kostiuk

2 years ago


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.

0

Rewards

chest
chest
chest
chest

More rewards

Discover enhanced rewards on our social media.

chest

Other news

New York AG Letitia James Sues Coinbase and Gemini Over Illegal Gambling

chest

New York Attorney General Letitia James has filed a lawsuit against Coinbase and Gemini for allegedly operating illegal prediction markets without the necessary licenses.

user avatarDavid Robinson

Amazon Expands Partnership with Anthropic with $25 Billion Investment

chest

Amazon has announced a significant investment in AI startup Anthropic, enhancing their partnership with a total potential stake of $33 billion.

user avatarAndrew Smith

XRP's Role in DeFi Sparks Controversy

chest

A heated debate has emerged regarding XRP's position in the decentralized finance sector, highlighting the importance of reliability in protocol design.

user avatarJacob Williams

XRP's DeFi Ecosystem Surges Towards 160 Million Tokens

chest

The FXRP supply is rapidly approaching 160 million tokens, showcasing the growing adoption of XRP within the decentralized finance landscape.

user avatarZainab Kamara

Arbitrum Security Council Takes Emergency Action to Freeze Funds Linked to KelpDAO Exploit

chest

The Arbitrum Security Council has taken emergency action to freeze 30,766 ETH linked to the KelpDAO exploit, following law enforcement input.

user avatarSon Min-ho

The Ultimate Hodl Story: A Journey to 1 Billion

chest

An investor turned a modest investment into a billion-dollar profit by holding onto Bitcoin through multiple bear markets.

user avatarAyman Ben Youssef

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.