Binance, one of the leading companies in the cryptocurrency market, has recently been on the SEC’s agenda through its partner Ceffu. On September 14, the SEC alleged that Ceffu provided “wallet custody software and support services” to BAM. However, Ceffu strongly denies these allegations and provides clear explanations on the subject.
Ceffu denies SEC allegations on Binance
In the official statement, the services and working principles offered by the company within the framework of its cooperation with Binance were clearly revealed. Operating under Ceffu Holdings, the company is a specialist service provider of cryptocurrency custody solutions, offering solutions to institutional clients in select jurisdictions, including the United States. In this context, Ceffu emphasizes that his company operates and provides services outside the USA.
Ceffu officials also said that its operations and services are completely independent from BAM and BHL. They also stated that their dealings with any third parties have no impact on these organizations. This shows that their collaboration with Binance is carried out within a completely professional framework and is legal. BAM Trading, operating as Binance.US, is a cryptocurrency exchange. The company provides a platform for trading various cryptocurrencies.
Following these allegations, all eyes once again turned to the news on September 15.
cryptokoin.com As we reported, on this date Binance.US was accused of not cooperating with the SEC’s investigation and allegedly violated federal securities laws. The SEC alleged that Binance.US violated prior agreements by using services provided by Ceffu. He also expressed concern about users transferring their assets abroad.
Binance, which has an important place in the crypto industry, is taking action after such allegations. The leading exchange is taking steps to address the concerns of its customers and business partners. Ceffu’s statements and the SEC’s allegations also raise curiosity about what strategy Binance will follow in the future. The company shows its determination to carry out the entire process openly by adopting the principle of transparency in order not to shake the trust of its users.
In summary, Binance and its partner Ceffu deny the allegations made by the SEC. The duo maintain that they are operating independently and lawfully. During this process, Binance again demonstrated its determination to fulfill its responsibilities towards its users and investors. Market observers are closely monitoring the impact and possible consequences of such allegations on Binance. Meanwhile, Binance continues to come to the fore with senior executive bankruptcies.
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