The U.S. Securities and Exchange Commission (SEC) contends that Binance Holdings Ltd.’s recent $4.3 billion settlement with the Justice Department and other US authorities strengthens the SEC’s own case against the world’s largest cryptocurrency exchange.
SEC Wants to Continue With Its Binance Case
Despite not being part of the settlement, the SEC argued on Friday that the federal court in Washington hearing its case should consider admissions made by Binance and its former CEO, Changpeng Zhao, in the November 21 settlement.
Binance and Zhao have requested the court to dismiss the SEC’s lawsuit. The SEC’s lawsuit, filed in June, accuses Binance and Zhao of mishandling customer funds, providing misleading information to investors and regulators, and violating securities rules.
Furthermore, the SEC countered Binance’s plea stating that it lacks legal substance. The SEC is challenging Binance’s motion to dismiss, claiming that the exchange’s defense is based on misinterpre
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