.png)
Binance and Binance.US Legal Teams Filed a Motion to Stop SEC from Issuing Misleading Statements
A federal judge has denied a motion from Binance and Binance.US legal teams that would have stopped the U.S. Securities and Exchange Commission (SEC) from issuing public statements related to the ongoing lawsuit between the two crypto exchanges and the regulatory agency.
The legal teams for Binance, Binance.US, and CEO Changpeng "CZ" Zhao filed the motion on June 21, alleging that the SEC misled the U.S. public in statements issued over the securities lawsuit. The motion claimed that the SEC's statements had the potential to "taint the jury pool" and introduce "unwarranted confusion into the marketplace."
In a ruling on June 26, U.S. District Judge Amy Berman Jackson denied the motion, saying that it was unnecessary for the court to intervene at this time. However, Jackson did express concern about the SEC's public statements, saying that they "could be seen as an attempt to influence public opinion in the case."
The SEC has not yet commented on the ruling.
The lawsuit between Binance and the SEC centers on whether the crypto exchange violated U.S. securities laws by selling unregistered securities. The SEC alleges that Binance sold tokens that were unregistered securities, and that it failed to register as a securities exchange.
Binance has denied the allegations, and has said that it is not registered as a securities exchange because it does not facilitate the trading of securities.
The case is still ongoing, and it is unclear how the judge's ruling will affect the outcome of the case. However, the ruling is a significant development in the case, and it could have implications for other crypto exchanges that are facing similar lawsuits from the SEC.
Here are some key takeaways from the article:
- Binance and Binance.US legal teams filed a motion to stop the SEC from issuing public statements related to the ongoing lawsuit between the two crypto exchanges and the regulatory agency.
- The motion was denied by U.S. District Judge Amy Berman Jackson, who said that it was unnecessary for the court to intervene at this time.
- However, Jackson did express concern about the SEC's public statements, saying that they "could be seen as an attempt to influence public opinion in the case."
- The lawsuit between Binance and the SEC centers on whether the crypto exchange violated U.S. securities laws by selling unregistered securities.
- Binance has denied the allegations, and has said that it is not registered as a securities exchange because it does not facilitate the trading of securities.
- The case is still ongoing, and it is unclear how the judge's ruling will affect the outcome of the case.
