While we take the SEC’s allegations seriously, they should not be the subject of an SEC enforcement action, let alone in an emergency. We intend to vigorously defend our platform. Unfortunately, the SEC’s refusal to engage productively with us is just another example of the Commission’s misguided and willful refusal to provide much-needed clarity and guidance to the digital asset industry.

Today’s action is another in a series of examples where, as with other crypto projects facing similar litigation, the Commission has decided to regulate using the blunt weapons of enforcement and litigation rather than the thoughtful, nuanced approach that this dynamic and complex technology demands. Unilaterally labeling certain tokens and services as securities — even those over which other U.S. authorities have asserted jurisdiction — will only compound these problems.

Perhaps most surprising, the SEC’s actions undermine the United States’ role as a global center of financial innovation and leadership. In much of the world, digital asset law remains largely unwritten, and enforcement regulation is not the best path forward. An effective regulatory framework requires collaboration, transparency, and thoughtful policy engagement—a path the SEC has abandoned.

And, to be clear: Any allegation that user assets on the Binance.US platform were ever at risk is false, and there is zero reason for the staff’s action given the ample time the staff had to conduct its investigation. All user assets on Binance and Binance-affiliated platforms (including Binance.US) are safe and secure, and we will vigorously defend against any allegations to the contrary. Instead, the SEC’s actions appear to be an effort to rush to gain jurisdiction from other regulators — and investors don’t seem to be a top priority for the SEC. Because of our size and global visibility, Binance is now an easy target in the U.S. regulatory tug-of-war.

Based on these developments, it appears that the SEC’s goal was never to protect investors; if that were the case, the staff would have thoughtfully engaged with us on the facts and participated in our efforts to demonstrate that the Binance.US platform is secure. Instead, the SEC’s true intent appears to be to generate headlines.

We will continue to work with regulators and policymakers in the U.S. and around the world because it is the right thing to do. Binance remains committed to productive engagement to ensure that the next generation of cryptocurrency regulation fosters innovation while implementing and ensuring important consumer protections. Because Binance is not a U.S. exchange, the SEC’s scope for action is limited. Nonetheless, we stand with U.S. digital asset market participants against the SEC’s recent overreach, and we are prepared to fight it to the fullest extent of the law.

We will work with industry partners to protect this important technology from misleading lawsuits. We will continue to work tirelessly to provide our users with a safe and trusted platform that upholds our core value of promoting the freedom of money.

My last words are: If you can’t play Binance with peace of mind, I’m speechless! ! ! !