Binance.US, the American arm of the world’s largest crypto exchange, Binance, is gearing up for the next chapter in its legal fight with the Securities and Exchange Commission (SEC). After an unsuccessful attempt to dismiss the SEC’s allegations of securities law violations, the court ruled in favor of the SEC on June 28, upholding 10 out of the 13 charges filed against Binance.
Response to the Ruling
In response to the court’s decision, Binance.US released a statement expressing its readiness to continue with the case in the judicial process. The company remained unfazed, highlighting that the SEC had not provided any concrete evidence of wrongdoing during the 11-month discovery period. Despite the ruling, Binance reiterated its confidence in its position, stating that the SEC’s claims lacked factual and legal support.
Binance.US emphasized its commitment to compliance with local laws and regulations, emphasizing its robust compliance and risk programs that ensure the safety and security of its platform. The exchange claimed that it had adhered to the SEC’s limited guidance to the emerging industry, portraying the lawsuit as another example of the SEC’s regulation-by-enforcement strategy.
As the legal battle continues, Binance.US remains steadfast in its stance against the SEC’s allegations. The company anticipates that the court will ultimately validate its position, asserting that the SEC lacks the authority it seeks to assert through the lawsuit. Despite the setbacks in the case, Binance.US is prepared to navigate the legal process and defend its operations in accordance with the law.
Binance.US is gearing up for the next phase of its legal dispute with the SEC, following a recent court ruling upholding several charges against the exchange. While facing challenges from the regulatory body, Binance.US maintains its confidence in its compliance measures and operational practices. As the legal proceedings unfold, the cryptocurrency exchange remains resolute in its position and committed to upholding the integrity of its platform amidst the regulatory scrutiny.