Binance.US prepares for SEC legal showdown! CZ’s supervision continues to approach after serving his sentence, and Binance has begun to prepare for war

Binance.US is preparing for a protracted legal showdown with the U.S. Securities and Exchange Commission (SEC), stressing its commitment to compliance and criticizing the agency’s enforcement tactics.

Binance US prepares for legal challenge

Binance.US, the U.S. arm of global cryptocurrency exchange Binance, is preparing for a legal showdown with the U.S. Securities and Exchange Commission. Binance.US said it is ready for a long-term legal investigation: "The court decided on Friday that the SEC's lawsuit against Binance.US will continue. We are ready and look forward to the case advancing in the judicial process."

Facing SEC charges, Binance US reiterates everything is legal

The SEC’s charges revolve around securities law violations, including offering unregistered investment products and anti-fraud violations. Binance.US reiterates its commitment to serving U.S. customers in full compliance with U.S. regulations. Binance.US stated: “We maintain 1:1 reserves of all customer assets and have robust compliance and risk management programs to ensure the safety, security, and integrity of our platform.”

Outspoken critic of SEC's regulatory approach

Binance.US has not been shy about criticizing the SEC’s regulatory approach, calling it “regulatory through enforcement.” The company attributes its legal challenge to politically motivated actions by the administration led by current SEC Chairman Gary Gensler. Binance.US said: “Unfortunately, we, like many companies in the industry, have fallen victim to politically motivated excesses and regulation through enforcement under the SEC’s current leadership.”

SEC’s Extended Investigation and CZ’s Role

Binance.US said that after 11 months of investigation, the SEC still "has not found any evidence of wrongdoing on the part of Binance.US." The company argued that the SEC's case "is inconsistent with neither the facts nor the law."

However, the U.S. court did not dismiss most of the SEC’s allegations against Binance.US in a June 28 court filing. The filing also supports the SEC’s allegation that Binance CEO Changpeng Zhao (CZ) acted as a “controller,” an allegation that Binance has sought to dismiss.

This article Binance.US prepares for SEC legal showdown! CZ’s supervision continues to approach after serving his sentence, and Binance has begun to prepare for war. First appeared on Chain News ABMedia.