Binance US (Binance.US) pointed out earlier yesterday (7/2) that the court ruled that the U.S. Securities and Exchange Commission’s (SEC) lawsuit against the company will continue. Binance.US has been prepared for this and is looking forward to the case. Able to proceed smoothly in the judicial process.

Binance.US emphasized that the company has always served local customers in accordance with U.S. rules and regulations, maintained a 1:1 customer asset reserve, has sound compliance and risk control procedures, and has always followed the " Limited guidance" to maintain compliance operations, but unfortunately it has still become a victim of the SEC's "replacing supervision with strong enforcement" and "politically motivated excessive expansion of powers".

A U.S. federal judge last week dismissed part of the SEC's lawsuit against Binance and its founder Changpeng Zhao, but left in place most of the charges against Binance.US, which include potentially offering unregistered investment products and violating anti-fraud provisions.

Next, this case will enter the "evidence disclosure stage". Binance.US expressed that it "looks forward to the further evidence discovery process in the case" and emphasized:

During its discovery process over the past 11 months, the SEC was unable to find any evidence of wrongdoing by Binance.US. The company firmly believes that the SEC's lawsuit has no factual or legal basis, and the SEC lacks the corresponding power.

The U.S. SEC filed a lawsuit against Binance, Binance.US and Changpeng Zhao in June last year, accusing them of illegally listing unregistered securities, providing U.S. investors with trading and investment in a variety of cryptocurrencies, and allegedly operating unregistered securities transactions. firms, broker-dealers and clearing agencies. Changpeng Zhao is currently serving a prison sentence on charges from the Department of Justice.

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  • This article is reprinted with permission from: Block Guest

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