Binance.US and the SEC Agree to Hearing Date
In a recent court hearing, Binance.US and the Securities and Exchange Commission (SEC) have agreed to hold a hearing on October 12. The judge presiding over the case urged both parties to put aside their differences and work towards a resolution. They are expected to submit a joint status report on October 10.
Binance’s Troubled Relationship with the SEC
The SEC filed legal proceedings against Binance on June 5, accusing the exchange of trading unregistered securities. In a lengthy document, the SEC outlined various allegations against Binance and its founder, Changpeng “CZ” Zhao. These allegations included fraud, conflicts of interest, lack of transparency, and disregard for legal regulations.
SEC Chair Gary Gensler highlighted deceptive practices aimed at misleading investors. These practices involved issues with risk management, manipulation of trade volume, hiding important operational information, and violations of US securities laws.
Hot Take: Binance.US and the SEC Seek Resolution in Upcoming Hearing
The agreement between Binance.US and the SEC to hold a hearing demonstrates their willingness to find a resolution to their disputes. Both parties will have an opportunity to present their arguments and address the allegations made by the SEC. This hearing will be crucial in determining the future relationship between Binance.US and US regulatory authorities.
As the crypto community eagerly awaits the outcome of this hearing, it remains to be seen how it will impact Binance’s operations in the US market and its overall reputation in the industry.
By
By
By
By