Binance will face the SEC again
Binance, one of the largest cryptocurrency exchanges, will face the U.S. Securities and Exchange Commission (SEC) in a court hearing on Monday, January 22
The world of digital currencies experienced a significant turnaround as Binance, one of the largest cryptocurrency exchanges, will face the United States Securities and Exchange Commission (SEC) in a court hearing on Monday, January 22.
Originally scheduled for the previous Friday, the hearing had to be rescheduled due to an intense snowstorm that forced the closure of the court facilities, as reported by The Block.
In June of the previous year, the SEC filed a lawsuit against Binance and its former CEO, Changpeng Zhao, alleging multiple irregularities. These included allegations that Binance.US misappropriated client funds and engaged in a fraudulent transaction, as well as operating without the required permits in the United States.
The SEC also noted that 12 tokens traded on the platform, including BNB and BUSD, should be considered securities. Binance, for its part, has tried to invalidate these allegations, arguing that the SEC has misinterpreted securities laws related to cryptocurrencies and criticizing the lack of clear guidelines for the sector.
In December, Binance stepped up its defense, arguing that the SEC had stayed out of the cryptocurrency arena for more than a decade, only to later accuse the company of violating securities laws. The SEC, however, has maintained its position, alleging that Binance deliberately avoided complying with federal regulations.
K. Tovar
Source: Diariobitcoin
(Reference image source: Kanchanara, Unsplash)
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