{"id":1964,"date":"2023-06-14T08:45:36","date_gmt":"2023-06-14T03:15:36","guid":{"rendered":"https:\/\/news.cetoex.com\/?p=1964"},"modified":"2023-06-14T08:45:37","modified_gmt":"2023-06-14T03:15:37","slug":"binance-files-its-first-response-as-the-sec-lawsuit-begins","status":"publish","type":"post","link":"https:\/\/news.cetoex.com\/binance-files-its-first-response-as-the-sec-lawsuit-begins\/","title":{"rendered":"Binance Files its First Response as the SEC Lawsuit Begins"},"content":{"rendered":"\n
\"Binance<\/figure>\n\n\n\n

Cetoex News –<\/strong> Binance.US, Binance and its CEO, Changpeng Zhao, have officially filed their first response to the\u00a0US Securities and Exchange Commission (SEC)\u00a0lawsuit issued last week. Moreover, the exchange has argued that the regulator\u2019s insistence on a restraining order would essentially shut down the business.\u00a0<\/p>\n\n\n\n

The SEC had called for an asset freeze against the US arm of\u00a0Binance. Subsequently, the exchange has filed an answer that seeks a rejection of the request made by the regulator. Specifically due to the detrimental implications if the temporary restraining order is granted.\u00a0<\/p>\n\n\n\n

\"Cardano
Source \u2013 Capital.com<\/figcaption><\/figure>\n\n\n\n

Binance Officially Responds to SEC Charges in Court<\/h2>\n\n\n\n

The digital asset industry was caught off guard last week when the US regulatory agency filed a lot of charges against Binance. Not only does it target the exchange, its American arm, and its CEO, but it also issues similar charges against\u00a0Coinbase. All centered around the sale of unregistered securities.\u00a0<\/p>\n\n\n\n

Now, the exchange has been heard. Specifically, Binance has filed its first response to the SEC lawsuit. Indeed, the exchange has argued in court over the regulator\u2019s application for a temporary restraining order. Explaining that such an action would have a dire impact on its operations. <\/p>\n\n\n\n

\"Binance\u2019s
Source: Celebrity Net Worth<\/figcaption><\/figure>\n\n\n\n

Coindesk\u00a0reported Binance.US proclamation that such an order would \u201cprevent it from paying employees, vendors, or anyone else.\u201d The response went as far as to refer to the action as seeking \u201cunnecessary and unjustified relief.\u201d Ultimately calling the request, \u201cdraconian.\u201d<\/p>\n\n\n\n

Moreover, the filed response has also previewed the defense against the SEC\u2019s charges. The court battle begins now, with the allegations made against the SEC being tested for the first time today.<\/p>\n\n\n\n

Conversely, the case judge responded. \u201cNo additional argument or explication may be submitted by any party at this time,\u201d they ordered, according to reports. Although it is certainly not groundbreaking, it could suggest the judge\u2019s mindset. Specifically, they may not be comfortable with a full temporary asset freeze. But will seek some sort of limitation on access to the company\u2019s funds.\u00a0<\/p>\n\n\n\n

<\/p>\n\n\n\n

NEWS BY – CETOEX NEWS<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Cetoex News – Binance.US, Binance and its CEO, Changpeng Zhao, have officially filed their first response to the\u00a0US Securities and Exchange Commission (SEC)\u00a0lawsuit issued last week. Moreover, the exchange has… <\/p>\n","protected":false},"author":1,"featured_media":1965,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[20],"tags":[52,884,106,26,885],"class_list":["post-1964","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news","tag-binance","tag-binance-files","tag-crypto","tag-cryptocurrency","tag-lawsuit"],"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/news.cetoex.com\/wp-content\/uploads\/2023\/06\/f618ab67-d7a1-4615-8427-aef0e157a72f-800x450.png.webp","_links":{"self":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1964","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/comments?post=1964"}],"version-history":[{"count":1,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1964\/revisions"}],"predecessor-version":[{"id":1966,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/posts\/1964\/revisions\/1966"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media\/1965"}],"wp:attachment":[{"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/media?parent=1964"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/categories?post=1964"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news.cetoex.com\/wp-json\/wp\/v2\/tags?post=1964"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}