{"id":24430,"date":"2023-11-09T06:38:09","date_gmt":"2023-11-09T06:38:09","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/sec-continues-its-battle-against-binance-in-regulatory-showdown\/"},"modified":"2023-11-09T06:38:09","modified_gmt":"2023-11-09T06:38:09","slug":"sec-continues-its-battle-against-binance-in-regulatory-showdown","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/sec-continues-its-battle-against-binance-in-regulatory-showdown\/","title":{"rendered":"SEC Continues Its Battle Against Binance in Regulatory Showdown"},"content":{"rendered":"

(Originally posted on : Crypto News – iGaming.org )<\/b>
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John Reed Stark, the former head of the SEC\u2019s Office of Internet Enforcement, has highlighted the agency\u2019s recent objections to Binance\u2019s legal position. Citing a declaration from Binance\u2019s Chief Compliance Officer, the opposition focuses on Binance\u2019s purported activities as an unregistered securities exchange in the US.<\/p>\n

Binance\u2019s Legal Challenge Faces a Hurdle<\/strong><\/h2>\n

Stark makes a suggestion in a post from November 8 that Binance could be in danger of losing the current court battle. According to the opposition, Binance has operated in the US as a clearing agency, dealer exchange, and broker, putting it in violation of federal securities laws. The paper claims that Binance deliberately chose not to comply with these rules.<\/p>\n

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The opposing paper further clarifies the specific accusations made in the lawsuit, which state that both the exchange and Changpeng Zhao, the CEO of Binance, knew they were breaking US laws. It implies that they worked out a scheme to seem as though they were not operating in the US while secretly making money off the US financial markets.<\/p>\n

The document also exposes the behind-the-scenes operations at Binance, indicating that Zhao and the exchange had such control that employees essentially acted as puppets. Stark\u2019s assessment of the SEC\u2019s pleading is that it is robust, compelling, and well-supported both in fact and law.<\/p>\n

The SEC filed lawsuits against Binance<\/a>, Zhao, and Binance.US in June 2023 for allegedly offering unregistered securities (cryptocurrencies) for trade by US investors, sparking the start of the legal battle between the two parties. Since then, this litigation has grown into a larger dispute over client money access in the US.<\/p>\n

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In response to the SEC\u2019s accusations, Binance has said that the agency has overreached itself by charging them with breaking securities laws. The ongoing battle between the SEC and Binance will have a big impact on how cryptocurrencies are regulated in the US going forward.<\/p>\n

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Source link <\/a>
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(Originally posted on : Crypto News – iGaming.org ) John Reed Stark, the former head of the SEC\u2019s Office of Internet Enforcement, has highlighted the agency\u2019s recent objections to Binance\u2019s legal position. Citing a declaration from Binance\u2019s Chief Compliance Officer, the opposition focuses on Binance\u2019s purported activities as an unregistered securities exchange in the US. […]<\/p>\n","protected":false},"author":34,"featured_media":24431,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[34],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24430"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/34"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24430"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24430\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24431"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24430"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24430"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24430"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}