Binance.US, the American arm of the world's largest cryptocurrency exchange, announced that it is ready for the next phase of its legal battle with the Securities and Exchange Commission (SEC).
Binance.US Ready for Investigation Phase in Ongoing Legal Battle with SEC
The announcement follows a court decision that allowed the SEC's lawsuit against the exchange to proceed.
In a statement published on
A court ruling issued by a US federal judge on Friday rejected some of the SEC's allegations against Binance and its founder, Changpeng Zhao.
But the judge upheld most of the charges against Binance.US, including charges of offering unregistered investment products and violating anti-fraud provisions.
Despite ongoing legal challenges, Binance.US has emphasized its efforts to comply with the SEC's limited guidance. “It is unfortunate that we, like many companies in our industry, have fallen victim to the SEC's regulation through its enforcement approach and politically motivated overreach under its current leadership,” the company said.
The lawsuit, filed by the SEC in June 2023, accuses Binance, Binance.US and Zhao of numerous securities law violations. Meanwhile, Zhao is currently serving a prison sentence on charges brought by the Department of Justice.
While legal proceedings are ongoing, Binance.US remains committed to transparency, ready to face the investigation phase and further defend its activities in court.
*This is not investment advice.
