The world’s leading cryptocurrency exchange, Binance, is preparing for a significant legal clash with the U.S. Securities and Exchange Commission (SEC) in a Washington courtroom on Friday, as reported by Reuters.
The SEC’s June fraud suit alleges wrongdoing by Binance, CEO Changpeng Zhao, and the operator of Binance.US. BAM Trading argues in court filings that the SEC failed to prove fraud, involving inflated trading volumes and misleading practices.
Binance firmly disputes these claims, emphasizing the SEC’s purported lack of authority in crypto matters. The legal confrontation mirrors Coinbase’s recent battle over unregistered securities charges.
Despite a $4.3 billion settlement last year, Binance remains under intense scrutiny amid the SEC’s broader crackdown on crypto firms.
Traders and investors anxiously await the outcome, anticipating potential relief from regulatory pressures on the prominent exchange.
Also Read: Circle Joins Binance SEC Case, Argues Over Stablecoin Status
