Binance.US, the US subsidiary of the world’s largest cryptocurrency exchange Binance, is preparing for the next phase of legal battles with the US Securities and Exchange Commission (SEC).
This follows a recent court decision on July 1, stating that the SEC’s case against Binance.US will proceed. On June 28, US District Judge Amy Berman Jackson upheld 10 of the 13 charges brought by the SEC against Binance, including allegations related to token offerings, ongoing sales of BNB, staking services, lack of registration, and fraud. However, the judge dismissed charges related to secondary sales of BNB and the Simple Earn service.
The SEC’s allegations focus on alleged violations of securities laws by Binance.US. Despite unsuccessful attempts to dismiss these charges, the exchange maintains its firm stance.
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In response to the court’s decision, Binance.US issued a statement expressing readiness to continue the legal process. The firm noted it was prepared for this development and looks forward to the case.
The exchange stated:
“We remain confident in our position that the SEC’s case is not supported by the facts or the law, and that the Commission lacks the authority it seeks to exercise against us. We believe this position will be affirmed by the court in due course.”
Additionally, Binance.US claims it has adhered to the limited guidance provided by the regulator. The company views this lawsuit as further evidence of SEC’s aggressive and politically motivated regulatory tactics.
