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YEREVAN (CoinChapter.com) — Binance.US, the American branch of the world’s largest cryptocurrency exchange, is set for the next phase of its legal dispute with the Securities and Exchange Commission. Binance.US announced on social media that it is “prepared” for the court ruling, which allows the SEC’s case to continue.
A U.S. federal judge ruled on Friday, upholding most of the SEC’s charges against Binance.US while dismissing part of the lawsuit against Binance and its founder, Changpeng Zhao. The remaining charges involve potentially offering unregistered investment products and violating anti-fraud provisions.
In a post on X, Binance.US noted,
“The SEC has yet to identify any evidence of wrongdoing on the part of Binance.US throughout the extensive, 11-month discovery process in which we have participated to date.”
Binance.US highlighted its commitment to compliance, stating,
“It is unfortunate that we, like many companies in our industry, have fallen victim to the SEC’s regulation by enforcement approach and politically motivated overreach under its current leadership.”
The SEC sued Binance, Binance.US, and Zhao in June 2023, with Zhao currently serving jail time due to charges from the Department of Justice.
Changpeng Zhao (CZ), founder and CEO of Binance, faces a lawsuit from the Securities and Exchange Commission (SEC) filed in June 2023. The SEC alleges that Binance and its U.S. affiliate, Binance.US, engaged in offering unregistered securities and failed to register as a securities exchange.
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