🚀Hey Bitcoin enthusiasts! Buckle up for some crypto drama! Binance.US is standing tall against the US Securities and Exchange Commission (SEC) after a court ruling allowed the regulatory body's case against the crypto exchange to proceed. The US arm of crypto giant Binance is not backing down, saying "the fight continues." 🥊

👀Binance.US has criticized the SEC's regulation-by-enforcement strategy, accusing it of politically motivated overreach. The exchange insists it has operated its business in a compliant way, using the "limited guidance" the SEC has provided to the crypto industry.

💼Binance.US also reassured its users, stating it maintains 1:1 reserves for all customer assets and has robust compliance and risk programs to ensure the safety and security of its platform.

📜The SEC filed a lawsuit against Binance Holdings Ltd., BAM Trading Services, BAM Management US, and founder Changpeng “CZ” Zhao last June, accusing them of violating US securities laws. Binance.US, however, maintains that the SEC has failed to identify any evidence of wrongdoing throughout an extensive, 11-month discovery process.

⚖️In September, Binance contested the SEC's claim and requested the case's dismissal, arguing that the SEC was overreaching its jurisdiction to foreign crypto transactions. However, the majority of the SEC's lawsuit will proceed, with 10 out of 13 counts fully proceeding, two partially proceeding, and one dismissed.

Stay tuned, Bitcoiners! This crypto showdown is just getting started! 🍿🎬