Lawyers representing US-based cryptocurrency exchange Binance.US, global exchange Binance Holdings Ltd., and Binance CEO Changpeng Zhao have accused the US Securities and Exchange Commission (SEC) of making misleading statements regarding an ongoing securities litigation case. In a recent filing with the US District Court for the District of Columbia, the legal teams expressed dissatisfaction with the SEC's June 17 press release and its complaints to financial regulators. The lawyers argued that the SEC's statements were designed to create confusion in the mark et and could potentially harm Binance. US customers. They have requested an order that would prevent the SEC from making further public statements that could impact the court proceedings.
The court filing is part of an ongoing SEC lawsuit filed on June 5 against Binance, Binance.US, and Changpeng Zhao, alleging unauthorized securities offerings and failure to register as an exchange or broker-dealer clearinghouse. t to freeze all assets of Binance.US, but an agreement was later reached, limiting access to client funds only by the exchange's employees during the lawsuit. Meanwhile, Binance, amidst the legal proceedings in the US, announced the launch of a regulated cryptocurrency cy platform in Kazakhstan.
The lawyers' filing also highlights partial transcripts from a June 13 hearing, where the SEC's lawyers admitted to having no evidence that Binance.US' assets had been transferred overseas. The legal teams argue that the SEC's press release contains misleading st aments lacking supporting evidence and They aim to prevent the SEC from making further public statements that could potentially influence the court proceedings while the case is ongoing. The SEC's initial claims focused on allegations of investor deception regarding risk control, and sought penalties and forfeiture of ill -gotten gains from Binance and Changpeng Zhao.
