New Development in Binance SEC Case! Binance’s Response to SEC’s Request Was Not Delayed: “It Has Nothing to Do with the SEC!”

As known Binance and its former CEO CZ, They pleaded guilty to anti-money laundering and violating US sanctions charges as part of a deal with the US government.

Binance signed one of the largest corporate agreements in US history and agreed to pay $4.3 billion within the scope of this agreement. As part of the agreement, CZ will resign as CEO of Binance and pay a fine of $50 million.

This agreement cryptocurrency While making a big impact in the industry, The SEC, another US agency suing Binance, attempted to include this deal in its case.

Opposing this, Binance and its founder CZ stated in their petition to the court that the SEC’s attempt to include the $4.3 billion settlement agreement with the US Department of Justice (DOJ) in the ongoing case is procedurally wrong, this should not be allowed, and that this agreement is unrelated to the SEC case. He said it wasn’t.

In their petition, Binance and CZ accused the SEC of “territorial expansion,” claiming the SEC was applying a new, distorted interpretation of securities laws, and argued that the case should be dismissed.

In its petition to the SEC, Binance also argued that Binance customers did not undertake any liability after purchasing cryptocurrencies and that the SEC’s claims would not legitimize the lawsuit they filed and that crypto purchases were not investment contracts.

In its petition, Binance finally stated that the SEC did not prove its allegations in the lawsuit it filed in June, and reiterated that this request of the SEC should be rejected.

As you may remember, the SEC filed a lawsuit against Binance and its founder CZ on June 5, 2023. In the ongoing lawsuit, the SEC accused Binance and CZ of 13 securities law violations, including their management of customer assets on Binance.US and mixing or diverting customer assets.

*This is not investment advice.