The SEC Demands Binance’s Admission of Guilt in Lawsuit
In the latest news from the United States, the Securities and Exchange Commission (SEC) is seeking to include Binance’s admission of guilt in the ongoing lawsuit filed against the exchange. The SEC had previously accused Binance of violating securities laws, including the sale of unregistered securities and money laundering.
Although Binance reached an agreement with the Department of Justice (DOJ), which involved a hefty fine and the resignation of the CEO, the SEC wants to continue its pursuit. The SEC insists that Binance’s admissions of guilt should be considered in the case.
However, Binance argues that the SEC’s demands are irrelevant to the alleged false accusations made by the commission. The exchange believes that the SEC’s claims have no basis in securities laws.
The Battle Between Binance and the SEC Continues
The SEC’s determination to pursue legal action against Binance is evident as it seeks to integrate Binance’s admissions of guilt into the ongoing lawsuit. The charges against Binance include various violations of securities laws.
Despite reaching an agreement with the DOJ, Binance now faces further scrutiny from the SEC. However, Binance argues that the SEC’s demands are procedurally incorrect and should be ignored.
Binance maintains that its admissions of guilt are not relevant to the allegations made by the SEC. The exchange believes that it should be granted a definitive dismissal of the case.
Binance Fights Back Against SEC’s Claims
Binance is defending itself against the SEC’s attempts to include its admissions of guilt in the lawsuit. The exchange argues that these admissions have no bearing on the alleged violations of securities laws.
In a document submitted by Binance’s lawyers, it is clear that the plea agreements with the DOJ have no connection to the SEC’s theory of securities law violations. Binance asserts that the SEC’s notice is inadmissible and should be ignored.
Binance also argues that the SEC has not demonstrated any relevance between the resolutions reached with the DOJ and its claims against Binance and its former CEO.
Will Binance Succeed in Dismissing the Lawsuit?
The situation seems to be under control for Binance as it defends itself against the SEC’s claims. The agreement reached with the DOJ is seen as a way for Binance to legitimize its operations in the US.
The SEC’s claims are viewed as merely formal and may have little impact on the ongoing case. Notably, the issue of security tokens, which is at the center of the SEC’s accusations, was not addressed in the agreement with the DOJ.
According to Binance, the SEC’s attempt to leverage resolutions with other agencies indicates a lack of understanding of relevant regulatory authority. The exchange believes that there is no basis for securities law violations in its case.
Hot Take: Binance Faces Legal Battle with SEC
The legal battle between Binance and the SEC continues as the commission demands that Binance’s admissions of guilt be included in the ongoing lawsuit. Despite reaching an agreement with the DOJ, Binance now faces further scrutiny from the SEC.
Binance is fighting back against these claims, arguing that they are procedurally incorrect and irrelevant to the alleged violations of securities laws. The exchange maintains that it should be granted a definitive dismissal of the case.
As this legal battle unfolds, it remains to be seen who will emerge victorious. In the meantime, Binance continues to operate and its token, BNB, shows resilience in the market.
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