Coinspeaker
District Court Judge Denies Binance Motion to Restrict SEC from Allegedly Issuing Misleading Statements
The ongoing litigation between Binance Holdings Limited and the United Securities and Exchange Commission (SEC) is slated to have a huge impact on the cryptocurrency industry in the region. Crypto firms that operated in a similar manner as the Binance ecosystem – including staking as a service, crypto custodial services, and token listing for trading – clearly understand whatever the court rules for the exchange will apply to them. As a result, every ruling is heavily anticipated for the sake of other crypto firms.
Binance Losses Motion to SEC
In the June 5 legal charges by the SEC, Binance was accused of several misconducts including operating unregistered exchanges and also mishandling users’ funds. According to Gurbir S. Grewal, Director of the SEC’s Division of Enforcement at SEC, Binance’s operations are highly opaque thus lacking the necessary transparency
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