© Reuters
WASHINGTON DC – In a pivotal court hearing today, Binance, the world's largest cryptocurrency exchange by trading volume, urged Judge Amy Berman Jackson to dismiss a lawsuit filed by the US Securities and Exchange Commission (SEC). ). The SEC has accused Binance of several violations, including manipulating trading volumes, facilitating transactions in what the SEC considers unregistered securities in accordance with standards set by the Securities Act of 1933, and Court precedents. Supreme Court over investment contracts, and providing misleading information about its market surveillance. protocols.
The allegations against Binance extend beyond the current lawsuit. The SEC also accused the exchange of failing to implement sufficient measures to prevent US customers from accessing its services. These charges are part of a broader set of fraud complaints that the regulator has brought against Binance.
In a related case, Binance previously settled with the US Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC), agreeing to pay $4.3 billion for various misconduct crimes. financial. Additionally, Changpeng Zhao, CEO of Binance, acknowledged the company's failure to comply with anti-money laundering regulations.
As one of its remaining major legal challenges in the US, Binance is challenging the SEC's jurisdiction based on traditional flexible securities laws versus newer common business frameworks amid allegations of market manipulation.
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