Binance US, which has reached an agreement with the SEC this morning to not move Binance US assets out of the US, has published an update on this issue and the general litigation process.
Here are the messages given:
“We would like to provide an update on the current battle Binance.US is having with the SEC. We are pleased to report that the court did not grant the SEC’s TRO request and the freezing of assets on our platform, which was clearly unfair by both the facts and the law.
Instead, we were able to reach an agreement with the SEC by court order that allowed us to continue our normal business. No evidence of misuse of client assets has been presented by the SEC. In fact, SEC lawyers admitted in Court earlier this week that they had no evidence that such a thing had occurred when asked by the Judge.
The SEC’s request, even if the agency makes claims that are not supported by the facts. cryptocurrency Consistent with his continued attempts to kill the industry in every way, it would virtually shut our business down.
This struggle has damaged our business and reputation, but it has not damaged our fighting spirit or our determination to defend ourselves against groundless accusations and “sanctioned regulation” tactics that do not belong to our justice system.
We look forward to continuing to defend ourselves in court.”
We want to provide an update on the current battle https://t.co/AZwoBOh0gq finds itself in with the SEC. We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and…
— Binance.US (@BinanceUS) June 17, 2023
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On June 5, the SEC told Binance, its CEO and founder, Changpeng Zhao, and the operator of Binance.US that Binance artificially inflated trading volumes, diverted client funds elsewhere, failed to block US customers from its platform, and failed to block investors from the market. He filed a lawsuit for allegedly misdirecting surveillance controls.
*Not investment advice.
Source: Bitcoinsistemi.com