After the SEC filed a lawsuit against Binance today, there were serious drops in the crypto money market.
Along with the SEC’s lawsuit, Binance CEO Changpeng Zhao and Binance US made some statements. After these statements, Binance shared its ideas on the subject on its official blog account.
Binance’s Response to SEC Litigation
Cryptocurrency market experienced a lively moment today with the SEC’s lawsuit against Binance and CEO Changpeng Zhao. However, the Binance front has responded to the SEC’s lawsuit. The company made statements on its blog site.
Binance made the following statements in its statements:
“We are disappointed that the U.S. Securities and Exchange Commission has chosen to file a complaint today against Binance, which supposedly seeks emergency assistance, among other remedies. From the beginning, we actively cooperated with the SEC’s investigations and worked hard to answer their questions and address their concerns. We recently engaged in extensive bona fide discussions to reach a negotiated settlement to resolve their investigation.”
The SEC accused Binance of not complying with securities laws. However, in the statement, the Binance front also included the following statements:
“While we take the SEC’s allegations seriously, it shouldn’t even be the subject of an SEC enforcement action, let alone its emergency. We intend to strongly defend our platform. Unfortunately, the SEC’s refusal to engage with us productively is another example of the Commission’s false and deliberate refusal to provide much-needed clarity and guidance to the digital asset industry.
Today’s action is another in a series of instances where, as with other crypto projects facing similar lawsuits, the Commission has decided to regulate with harsh enforcement and litigation weapons rather than the thoughtful, nuanced approach demanded by this dynamic and complex technology.”
