SEC Finds No Evidence to Support Allegations Against Binance US According to Cryptocurrency Exchange

Binance.US, the American division of the world’s largest cryptocurrency exchange Binance, is preparing for the next phase of its legal battle with the United States Securities and Exchange Commission (SEC). This follows a recent court decision on July 1st, which asserts that the SEC’s case against Binance.US will proceed. On June 28th, US District Judge Amy Berman Jackson upheld 10 of the 13 charges brought against Binance by the SEC. The supported allegations include claims related to the initial token offerings, ongoing sales of BNB, staking services, lack of registration, and fraud. However, the judge rejected the charges related to the secondary sales of BNB and the Simple Earn service. The SEC’s accusations focus on alleged violations of the Securities Act by Binance.US. Despite unsuccessful attempts to dismiss these charges, the exchange maintains its firm stance. Read more:

Coinbase announces partnership with the US government In response to the court’s decision, Binance.US made a statement expressing its readiness to continue the legal process. The firm noted that it had been prepared for this development and looks forward to the case. The exchange stated: “We remain confident in our position that the SEC’s case is not supported by the facts or the law, and that the Commission does not have the authority it seeks to exercise in taking action against us. We believe that this position will be vindicated by the court in due course.” Furthermore, Binance.US claims that it has adhered to the limited guidance provided by the regulator. The company views the current lawsuit as further evidence of the SEC’s aggressive and politically motivated regulatory tactics.