Binance.US Responds to SEC Lawsuit Ruling: “Prepared” for Further Discovery

Binance.US Prepares for SEC Court Ruling, Asserts Compliance Amid Legal Battle

In a bold move, Binance.US, the American arm of the world’s largest cryptocurrency exchange, has declared its readiness for the upcoming court ruling by the Securities and Exchange Commission (SEC). The company stated that it is fully prepared for the continuation of the SEC’s case against the exchange.

In a recent post, Binance.US expressed its anticipation for the case to progress to further discovery, emphasizing that the SEC has not presented any evidence of wrongdoing on their part throughout the extensive 11-month discovery process. The company remains steadfast in its commitment to compliance, citing the limited guidance provided by the SEC.

The response from Binance.US comes after a U.S. federal judge dismissed part of the SEC’s lawsuit against Binance and its founder, Changpeng Zhao, while upholding most of the agency’s charges against Binance.US. These charges include the potential offering of unregistered investment products and violations of anti-fraud provisions.

Despite the legal challenges, Binance.US remains resolute in its stance, attributing the regulatory scrutiny to the SEC’s enforcement approach and politically motivated overreach under its current leadership. The company’s commitment to compliance and transparency in the face of adversity is evident in its response to the ongoing legal battle.

In June 2023, the SEC filed a lawsuit against Binance, Binance.US, and Zhao for alleged violations of securities laws. Zhao is currently serving jail time for his charges from the Department of Justice, further complicating the legal landscape for the cryptocurrency exchange.

As the legal battle unfolds, Binance.US continues to navigate the regulatory environment with resilience and determination, setting a precedent for compliance within the cryptocurrency industry. The outcome of the court ruling will undoubtedly have far-reaching implications for the future of Binance.US and the broader crypto market.