Despite the SEC’s absence from the press conference, former Chief of the SEC Office of Internet Enforcement, John Reed Stark, argues that the SEC has scored a significant win.
In a lengthy X post, the ex-SEC official has argued that the Binance-related settlements have provided the SEC with a wealth of fresh evidence. In the future, it will reinforce their accusations and contentions against Binance and other crypto firms. The newfound evidence, extracted from various documents and pleadings, is expected to support the SEC’s stance on cryptocurrency.
The imposition of independent monitorships on Binance by the DOJ, FinCEN, CFTC, and the Treasury Department was fruitful. The monitors have played a vital role in the Binance verdict. These monitors, tasked with ensuring compliance and reporting to the government, present a unique opportunity for the SEC. Stark mentioned that the monitors could serve as channels for the SEC to gather additional evidence. The monitors will ask questions
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