The world’s largest crypto money the American arm of the stock exchange Binance.USannounced that it is ready for the next phase of its legal battle with the Securities and Exchange Commission (SEC).
Binance.US Ready for Investigation Phase in Ongoing Legal Battle with SEC
The announcement comes after a court ruling allowing the SEC’s lawsuit against the exchange to proceed.
In a statement published on X, Binance.US expressed its expectation for the investigation phase, saying, “The SEC has not identified any evidence of wrongdoing by Binance.US throughout the extensive 11-month investigation process we have participated in to date.”
A court order issued by a U.S. federal judge on Friday rejected some of the SEC’s allegations against Binance and its founder, Changpeng Zhao.
However, the judge upheld most of the charges against Binance.US, including accusations of offering unregistered investment products and violating anti-fraud provisions.
Despite the ongoing legal challenges, Binance.US emphasized its efforts to comply with the SEC’s limited guidance. “It is unfortunate that, like many companies in our industry, we have fallen victim to the SEC’s enforcement approach and politically motivated overreach under its current leadership,” the company said.
The SEC’s lawsuit, filed in June 2023, accuses Binance, Binance.US, and Zhao of multiple securities law violations. Meanwhile, Zhao is currently serving a prison sentence on charges brought by the Justice Department.
While legal proceedings are ongoing, Binance.US maintains its stance and commitment to transparency, ready to face the investigation phase and further defend its activities in court.
*This is not investment advice.
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