Binance, the world’s largest cryptocurrency exchange, Binance.US and CEO Changpeng Zhao (CZ) submitted a 60-page petition to dismiss the case filed against them by the SEC.
The Binance front took a bold step against the US Securities and Exchange Commission (SEC). Binance, CEO CZ and in the 60-page petition submitted to the US District Court for the District of Columbia, SEC of the lawsuit filed against them by to be rejected And to be lowered he demanded.
The SEC filed a lawsuit against Binance, Binance.US and CEO CZ in June. In 13 different accusations Binance.US manipulation about that you lied And to wash trading He claimed he gave permission. The SEC also said Binance and CZ violated securities laws and misappropriated customer funds.
Binance and CZ claimed that the SEC exceeded its authority by suing them.
On the other hand, Binance Holdings Limited and Binance.US operating as a holding group BAM Management In the petition submitted to the court by the lawyers representing the stock exchange, it was stated that the stock exchange violated securities laws and “Wash Trading” He completely denied the allegations against him and asked for the case to be dropped.
Stating that the allegations in question are just unfounded statements, the lawyers made the following statements:
The SEC’s Wash Trading allegations, although sensationalized with distortions, do not correspond to any facts. Accordingly, the complaint in question, which is unfounded, should be rejected.
“These cryptocurrencies should not be considered securities”
However, Binance lawyers argued that the cryptocurrencies that the SEC marked as securities were essentially unrelated to securities.
lawyers BNB (BNB), Binance USD (BUSD), Solana (LEFT), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Cosmos (ATOM), Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity (AXS) And COTI (COTI) He argued that it should not be defined as a security, and this definition was challenged.