Experts Evaluated The Impact Of The SEC's Lawsuit Against Bitcoin Exchange Binance!

As it is known, yesterday evening, the US Securities and Exchange Commission accused Binance and its CEO, CZ, of violating securities laws and filed a lawsuit.

Commenting on this, CZ described the news as FUD, while Binance US argued that the case was the latest example of sanctioned regulation by the current SEC administration, unfounded and not justified by facts, law or the Commission's own peers.

In addition to these statements, Binance US added that they are open to efficient protection to protect customers.

While support messages were sent to Binance and CZ by important names in the crypto money industry such as Cardano (ADA) founder Charles Hoskinson and Tron (TRX) founder Justin Sun, experts evaluated the effects of the lawsuit filed by the SEC.

Speaking to Coindesk, James Bianco, head of Bianco Research, said that the lawsuit against Binance could have two aspects.

Stating that this case could be a big mistake in the first aspect, Bianco stated that in the second aspect, it could bring regulatory clarity to the crypto industry in the USA.

“The SEC's lawsuit against Binance, the world's largest cryptocurrency exchange, could be a huge mistake if other countries allow the crypto industry to flourish and eventually replace the traditional banking industry.

If cryptocurrencies are the next advanced design of the financial system, this case is a big mistake.

In this context, we think that the sanction action against Binance is an attempt by US lawmakers to get crypto out of the country."

Aaron Kaplan, CEO of Prometheum Inc, argued that the SEC's lawsuit against Binance could bring regulatory clarity for crypto.

“This meaningful action by the SEC marks the beginning of a shift towards a regulated infrastructure for crypto in the US.

This, in turn, will ultimately help the industry move forward. I anticipate that this will be a net benefit for US investors and allow innovation to flourish."

Steve Rosenblum, founder of risk management platform Libertify, said: "The SEC's legal action against Binance in the US seems not only justified, but also somewhat overdue. Binance has been criticized for its perceived lack of operational transparency. It seems largely inaccessible, and that adds to the concern.” said.