New move from Binance and CZ against the SEC

CZ, the former CEO of Binance and the exchange, has filed a new application for the court to reject the amended complaint file in the lawsuit filed by the SEC. Binance and CZ's lawyers stated that the SEC's charges were not based on any legal basis and all comments were arbitrary.

In the lawsuit filed by the US Securities and Exchange Commission (SEC) against the Binance exchange and its former CEO Changpeng Zhao in June last year, a new move came from the exchange lawyers. The lawyers representing Binance and the CZ side demanded that the SEC's court dismiss a complaint motion that had been amended on the matter.

"They don't count the judge's decision"

In the file submitted to the court, it was said that "the SEC does not insincerely state that cryptocurrencies are not securities on their own, even though it is a court decision, and does not count the judge's decision."

As it is known, in a year since the case, this June, the court judge did not accept many of Binance's rejection requests, but stated that the secondary sales of BUSD and "Simple Earn" program and BNB were not investment contracts. Here, the SEC wants these products, which the court rejects, to be considered securities sales again.

'They are still acting arbitrarily'

Binance and CZ lawyers state that the court has made the final decision on this issue:

“The SEC's claims here have no legal validity and logic. The institution continues to choose the winners and losers according to its own taste. Finally, without making any statement, they also gave up on their claims that Ether transactions had investment contract status. The problem with the SEC is that it acts with theories and stays away from the facts. Despite the 89-page summary given by the court, the allegations remain legally invalid.