Binance.US: SEC has no evidence at all and it is difficult to comply with vague regulations

The judge approves most of the SEC’s charges against Binance.US

A few days ago, US federal judge Amy Jackson ruled to dismiss part of the SEC’s lawsuit against Binance and its CEO Changpeng Zhao (CZ), but retained the case against Binance Most of the accusations against .US include that the company provided unregistered investment products and that the trading data provider BAM Trading violated anti-fraud provisions.

This lawsuit originated in June last year. The SEC sued Binance.US, Binance and CZ, alleging multiple violations of securities laws. Among them, CZ is currently being prosecuted by the U.S. Department of Justice and the Treasury Department. Prison sentence.

Binance.US: Ready to fight the SEC

In a public statement, Binance.US first expressed acceptance of the court’s ruling and “looked forward” to further developments in the case.

The company has stated its stance on complying with US regulations and is committed to ensuring platform security:

• We are prepared for this and Look forward to developments in this case moving forward in the judicial process.

Binance.US’s comments on the SEC’s crypto industry rules

Binance.US also mentioned the SEC’s vague and unclear crypto industry rules, believing that it is extremely difficult to achieve compliance in the United States:

• We We have been utilizing the "limited guidance" provided by the SEC to the crypto industry to operate our business in a legal manner.
• Unfortunately, like many companies in the industry, we have become victims of regulation through enforcement and excessive power expansion under the current leadership of the SEC.

Binance.US’s comments on the progress of the case

As the case will enter the final stage of evidence discovery, Binance.US finally criticized the SEC for not having any knowledge of the case during the year-long litigation process. Evidence that the Company was involved in illegal conduct:

• Therefore, we remain confident that the SEC’s case is unsupported by neither evidentiary fact nor law; in other words, the basis for the powers the SEC seeks to exercise in its lawsuit against us simply does not exist, We believe the courts will ultimately validate our position.

Crypto companies involved in lawsuits with the SEC

The number of crypto companies involved in lawsuits with the SEC is still increasing:

• Crypto companies that are busy in lawsuits with the SEC also include Ethereum software provider Consensys, Crypto Payment provider Ripple Labs, American exchange Coinbase, etc.
• Among them, the lawsuit with the exchange Kraken has also caused controversy, and has been criticized by many officials and the crypto community for abuse of power.

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