Binance recently announced on Twitter that the court was “pleasant” to reject the SEC’s “clearly justified” requests. The duo had made an agreement yesterday that no one but the employees could interfere with the assets of Binance.US.
Binance reports that the SEC failed to provide evidence for its claims
The two entered a bilateral settlement on the assets of Binance.US late Friday. The litigation process, which started on June 5, meant a “death sentence” for Binance with this agreement. In the hot development, Binance.US reported that the court did not accept this request of the SEC.
Court rejects SEC’s request for suspension
According to the official announcement, “We want to provide an update on the current war with the SEC. The Court’s judgment on our platform that the SEC has not been expressly justified by both facts and law. We are pleased to inform you that we have not accepted your request for an asset freeze and temporary protection order.
No evidence has been presented
“Instead, we were able to reach a Court-ordered agreement to continue our business with the SEC. No evidence of misuse of client assets has been presented by the SEC. In fact, SEC lawyers admitted in Court earlier this week that when asked by the Judge, they had no evidence that such a thing had occurred.”
“This fight has damaged our business and reputation”
The final part of the tweet featured the devastation caused by the regulatory action. Binance.US assured that they will continue to defend themselves in court:
The SEC’s request could have effectively closed our business, consistent with the agency’s continued attempts to kill the crypto industry in any way, even if it made claims that were not supported by the facts. This fight damaged our business and reputation, but it did not harm our fighting spirit or our determination to defend ourselves against false accusations and “enforcement regulation” tactics that do not belong to our justice system. We look forward to continuing to defend ourselves in court.
cryptocoin.com As we have reported, the litigation process started on June 5th.
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Binance Announces Its Supremacy in SEC Case!