CRYPT — An effort by Binance to influence how the United States Securities and Exchange Commission (SEC) views the cryptocurrency exchange. In a press release dated June 17, the US customer’s cash handling was denied by a federal judge. According to the company, this was a step that could negatively influence the legal proceedings in which it was involved. In a complaint filed on June 23, BAM Trading, also doing business as Binance.US, raised concerns about what it called “misleading extrajudicial statements” made by the SEC.
Binance has until September 21 to respond to the SEC’s allegations, and the SEC has until November 7 to respond to Binance’s allegations, which read: “The SEC’s press release is disappointing given the prior concessions by the SEC in this Court regarding the lack of evidence on this issue and the fact that the defendants worked in good faith before and after the filing of the lawsuit to address the SEC’s unfounded concerns about the assets of the BAM customers. »
The legal team representing Binance said the press release issued by the SEC appeared to be aimed at causing unnecessary market instability, which would be a move that could potentially negatively impact BAM customers rather than protect them. . The attorneys pointed out that the SEC’s representation posed the potential to “mislead” the jury with biased readings of the evidence against the defendants, and that was something that should have been avoided. They have repeatedly stated that there is “no evidence of misuse, commingling or dissipation of BAM client assets”.
In a complaint filed on June 23, BAM Trading, also doing business as Binance.US, raised concerns about what it called “misleading extrajudicial statements” made by the SEC. By September 21, Binance must respond to the SEC allegations, and the SEC has until November 7 to respond to Binance’s allegations. Binance is preparing to sue the SEC, and this filing is part of their litigation preparation. The SEC filed a lawsuit against Binance and its CEO Changpeng Zhao on June 5, alleging the defendants violated federal securities laws.