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Binance.US, the American branch of the world’s largest cryptocurrency exchange, stated it is “prepared” for the court ruling that the Securities and Exchange Commission (SEC) case against it will proceed. This comes after a federal judge upheld most of the SEC’s charges against Binance.US on Friday.
In a post on X, Binance.US expressed anticipation for the case moving into further discovery. The company emphasized that the SEC has not yet identified any evidence of wrongdoing by Binance.US during the extensive 11-month discovery process. “We look forward to continuing the process and are confident in our compliance,” Binance.US stated.
The judge dismissed part of the SEC’s lawsuit against Binance and its founder, Changpeng Zhao, but upheld the majority of the charges against Binance.US. These charges include potentially offering unregistered investment products and violating anti-fraud provisions.
Binance.US highlighted in its post that it has always followed the “limited guidance” provided by the SEC to remain compliant. The company criticized the SEC’s approach, stating, “It is unfortunate that we, like many companies in our industry, have fallen victim to the SEC’s regulation by enforcement approach and politically motivated overreach under its current leadership.”
The SEC filed a lawsuit in June 2023 against Binance, Binance.US, and Zhao, alleging violations of securities laws. Currently, Zhao is serving jail time for charges brought by the Department of Justice.
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