Binance US has signaled its readiness to engage in the discovery phase of its legal dispute with the SEC. A recent decision by a U.S. federal judge saw partial dismissal of the SEC’s lawsuit against Binance and its founder, CZ. Binance US, the American subsidiary of the prominent cryptocurrency exchange, stands prepared for an extended legal battle with the Securities and Exchange Commission (SEC). The company emphasizes its dedication to regulatory adherence while critiquing the SEC’s enforcement tactics.
Despite an extensive 11-month discovery period, Binance US asserts that the SEC has yet to substantiate any allegations of misconduct against it. The company is poised for the upcoming legal proceedings, as stated in a recent announcement on X (formerly Twitter), expressing eagerness for further discovery.
This development follows a federal judge’s recent decision to dismiss some of the SEC’s claims against Binance and Changpeng Zhao, the founder. However, most charges against Binance US remain intact, including accusations related to the potential offering of unregistered investment products and violations of anti-fraud regulations.
In its official statement, Binance US reaffirmed its commitment to complying with the SEC’s guidelines to ensure regulatory adherence. The SEC initially filed the lawsuit in June 2023, alleging securities law violations against Binance, Binance US, and Zhao. Notably, Zhao is currently serving a prison sentence following charges by the Department of Justice.
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