PANews reported on July 2 that Binance.US stated on the X platform that the court ruled that the U.S. Securities and Exchange Commission (SEC)'s lawsuit against it will continue. The company has been prepared for this and looks forward to the case going smoothly in the judicial process. Binance.US emphasized that it has been serving local customers in accordance with U.S. rules and regulations, maintaining a 1:1 customer asset reserve, and has a sound compliance and risk program. The company said that it has been operating in compliance with the SEC's limited guidance, but unfortunately became a victim of the SEC's enforcement-style supervision and politically motivated over-regulation. Next, the case will enter the further discovery phase. In the 11-month discovery process so far, the SEC has not found any misconduct by Binance.US. The company firmly believes that the SEC's lawsuit has no factual and legal basis, and the Commission lacks the corresponding authority. Binance.US said it will continue to provide services to customers and launch new features and updates. Its business foundation is solid and its commitment to providing Americans with access to digital assets will not change.
Earlier on June 29, a U.S. judge allowed the SEC to continue most of its lawsuits against Binance, including allegations of unregistration and fraud.
