Crypto exchange Binance, its US arm Binance.US, and Binance CEO Changpeng “CZ” Zhao are fighting back against the US Securities and Exchange Commission (SEC) with a new court filing.
Binance And Binance CEO File Joint Motion Against SEC
On Thursday, September 21, 2023, Binance and Binance CEO Changpeng CZ Zhao filed a joint motion to dismiss the US Securities and Exchange Commission (SEC)’s lawsuit against them, including Bam Management Holdings Inc.
The filing claims that the SEC had not plausibly alleged various securities-related violations and the regulator was seeking to surround digital assets under its authority.
In the 60-page petition, Binance and Changpeng claimed that the regulator had overstepped its authority in filing a lawsuit against them. The regulator leveled a total of 13 charges in its lawsuit against the crypto exchange and its CEO Zhao, which includes mishandling customer funds, misleading investors and regulators, and breaking securities rules, among others
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