- Binance US said it’s prepared for discovery in a legal battle with the SEC.
- A U.S. federal judge recently dismissed part of the SEC’s lawsuit against Binance and its founder CZ.
Binance US, the American arm of the giant cryptocurrency exchange, is prepared for an extended legal battle with the Securities and Exchange Commission (SEC). The company emphasizes its commitment to regulatory compliance while criticizing the SEC’s approach to enforcement.
Despite a prolonged 11-month discovery process, the US entity claims that the SEC has yet to identify evidence of any wrongdoing by the US entity. The company is ready for the upcoming phase of the legal proceedings, as indicated in a recent post on X (formerly Twitter), expressing eagerness for further discovery.
This development follows a U.S. federal judge’s Friday decision to dismiss some SEC’s lawsuit against Binance and its founder, Changpeng Zhao. However, most of the charges against Binance US were remain. These charges include the potential offering of unregistered investment products and violations of anti-fraud regulations.
In its statement, Binance US reiterated its commitment to follow the SEC’s limited guidance to remain compliant. The SEC initially filed the lawsuit in June 2023, accusing Binance, Binance US, and Zhao of various securities law violations. Notably, Zhao is currently serving a jail sentence for charges brought by the Department of Justice.
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