Binance.Us demands to reject the SEC's application to an injunction

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Eine Woche, nachdem die Securities and Exchange Commission (SEC) eine zivilrechtliche Durchsetzungsklage gegen Binance.US eingereicht hatte, schlug die Krypto-Börse zurück und erklärte, dass alle Ansprüche der Regulierungsbehörde ungültig seien. Binance plädierte gegen die SEC für eine einstweilige einstweilige Verfügung gegen das Unternehmen, auch bekannt als BAM Trading, und sagte, dass eine solche Maßnahme „zerstörerische Folgen“ hätte, die sich anschließend auf die Fähigkeit der Plattform auswirken würden, ihre Verteidigung gegen diese Maßnahme überhaupt zu finanzieren. Binance schlägt zurück In ihrer jüngsten Einreichung argumentierte die US-Tochtergesellschaft von Binance, dass die Agentur keinen einzigen Wertpapierhandel auf der Plattform von BAM identifiziert habe. Der …
A week after the Securities and Exchange Commission (SEC) had submitted a civil law enforcement action against Binance. Binance advocated the SEC for an interim injunction against the company, also known as BAM Trading, and said that such a measure would have "destructive consequences", which would then have an impact on the ability of the platform to finance its defense against this measure at all. Binance is back in her recent submission, the US subsidiary of Binance argued that the agency had not identified a single securities trading on the BAM platform. The … (Symbolbild/KNAT)

A week after the Securities and Exchange Commission (SEC) had submitted a civil law enforcement action against Binance.

Binance pleaded against the SEC for an interim injunction against the company, also known as BAM Trading, and said that such a measure had "destructive consequences", which would then have an impact on the ability of the platform to finance their defense against this measure at all.

Binance beats back

In its latest submission, the US subsidiary of Binance argued that the agency had not identified a single securities trade on the BAM platform. The application for an injunction would primarily damage BAM's customers, to push BAM from the business and then prevent the company from defending themselves in this legal dispute.

binance.us considered the application of the SEC to be "draconian and inappropriately stressful" and said that the step would affect the ability to pay its employees, suppliers, suppliers and specialists in normal business and maintain his technology platform.

"The SEC points out that it is a agreed thing that cryptocurrency is a securities, but that is not the case. The fact that numerous cryptocurrency exchanges, including BAM, have been operated in the United States for years without interfering with the SEC, refutes the claim that they are clearly falling under the securities laws."

binance .us continued that the SEC's application was "full of mistakes" and omissions, which inappropriately assume that BAM customer assets are "not safe".

collaboration with sec

binance.Us claimed to have made considerable efforts over more than three years in order to cooperate when examining the SEC. On December 17, 2020, BAM Trading was served for the first time that led to a more than two -year document creation and a number of follow -up inquiries.

This included five further lectures between September 2021 and October 2022 as well as a number of 28 written interrogations on December 28, 2022.

According to the documents, Binance has provided numerous informal written and oral inquiries for the investigation. In the reporting period, the company produced more than 700,000 individual communications, including almost 11,391 emails, 8,196 email attachments and 652,817 other messages.

The complaint of the crypto exchange about the unreserved cooperation with the SEC reflected similar problems with which their competitors were faced with, and made it aware of the default of the regulatory authority. Last week Dan Gallagher, Chief Legal Officer from Robinhood, also said that the popular trading company tried to register with the agency as a special broker for digital assets, and even go through a 16-month process, but "did not see any fruits of this effort". ”

also Paul Grewal, Chief Legal Officer from Coinbase, expressed his frustration about the matter. The managing director said that despite months of discussion, Coinbase had not managed to register and blamed the lack of reaction or a counter -proposal from the SEC.

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