Coinspeaker
SEC Dismisses Binance’s Arguments in Its Latest Filing
The United States Securities and Exchange Commission (SEC) has stated that Binance’s motion to dismiss a lawsuit filed against it has no basis in law. The federal regulator revealed this while responding to the motion against it on Wednesday.
How the SEC vs Binance Lawsuit Started
Earlier in June, the SEC began legal proceedings against Binance. The lawsuit accused Binance of offering services to US citizens without registration, selling securities, and offering staking and profit-generating programs. The regulator also accused Binance of engaging in wash trading activities among other claims. Thereafter, Binance was given until 21 September to respond to the US SEC’s lawsuit.
In its response, Binance summarily filed a motion to dismiss the case against it by the SEC. The exchange noted there was no explicit legislation from Congress giving the SEC authority over digital assets. Thus, it claimed the SEC was overre
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