Binance.US, the U.S. arm of the world’s largest cryptocurrency exchange Binance, said it is “prepared” for the case that a court allows the U.S. Securities and Exchange Commission to continue its lawsuit against the exchange, “expect” the case to move into further discovery.
“It is noteworthy that the SEC has not identified any evidence of wrongdoing by Binance.US during the 11-month discovery process we have engaged in to date.”
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
Binance’s response comes after a U.S. federal judge on Friday partially dismissed the SEC’s lawsuit against Binance and Changpeng Zhao, the exchange’s founder, but still uphold most of the agency’s charges against Binance.US. Those allegations include the possibility of offering unregistered investment products and violating anti-fraud provisions.
Binance.US added that it has always followed the “limited guidance” the SEC has provided to the crypto industry:
“It is unfortunate that we, like many others in the industry, have fallen victim to the SEC’s politically motivated regulatory enforcement approach and abusive conduct under its current leadership.”
In June 2023, the SEC sued Binance, Binance.US, and Zhao on charges including securities law violations. Zhao is currently serving a four-month prison sentence on charges brought by the U.S. Department of Justice.
Annie
According to The Block
