Binance.US Faces Ongoing SEC Legal Challenge with Confidence in Compliance

• Binance.US maintains a 1:1 reserve for customer assets and robust compliance to ensure platform security.
• Despite an 11-month discovery process, the SEC has yet to find evidence of wrongdoing by Binance.US.
• Binance.US criticizes the SEC’s ‘regulation by enforcement’ and remains confident in its legal stance.

Binance.US has announced its readiness to face the Securities and Exchange Commission (SEC) in court. On Friday, the court decided that the SEC’s case against the cryptocurrency exchange would move forward, a development that Binance.US anticipated.

In compliance with US rules and regulations, Binance.US was founded to serve American customers. The exchange keeps a 1:1 reserve for all customer assets and employs strong compliance and risk management procedures to preserve the safety and security of its platform. Using the SEC’s guidance to help manage the legal difficulties faced by the cryptocurrency sector, Binance.US highlights its commitment to conducting business in a manner that complies with the law.

Binance.US has expressed criticism of the SEC’s regulatory approach, labeling it as “regulation by enforcement.” The exchange attributes its challenges to actions it views as politically motivated under the leadership of Chair Gary Gensler. Binance.US asserts that it, along with other industry companies, believes it has been unfairly singled out for the SEC’s aggressive tactics.

The case now moves to further discovery. Notably, Binance.US points out that the SEC has yet to identify any evidence of wrongdoing throughout the extensive 11-month discovery process. Despite this, a recent court filing on June 28 failed to dismiss most of the SEC’s claims against the exchange.

Binance.US continues to feel sure about its legal position, stating that the SEC’s case lacks support from both facts and the law. The exchange believes that the SEC does not have the authority it is trying to use in this case. Binance.US is hopeful that the court will agree with its position in the future.

Despite the legal challenges, Binance.US assures its customers and the wider community that its business remains stable. The exchange is dedicated to offering Americans access to digital assets and plans to introduce new features and updates. Binance.US will keep serving its customers while managing the legal situation.