Binance is deeply disappointed that the U.S. Securities and Exchange Commission (SEC) has today chosen to file a lawsuit against our attempt to find a remedy for conciliation, even though we have always insisted on it from the outset. actively cooperate with SEC investigations and work diligently to answer their questions and concerns. Most recently, we have engaged in extensive good faith discussions to reach a negotiated settlement in response to the investigations. However, despite Binance’s best efforts, with today’s lawsuit, the SEC has abandoned this process, choosing to act unilaterally and sue. We are not satisfied with this choice at all. While Binance has taken the SEC’s allegations seriously, this is not an action that the SEC should take, but even in the context of an emergency. We intend to defend our platform vigorously. But unfortunately, the SEC’s refusal to effectively opt to join us in the resolution is, again, yet another example of misleading guidance and its refusal to provide unbiased clarity and guidance. essential to this Commission’s digital asset industry. Today’s action is a testament to what we mentioned above, like other crypto projects facing similar lawsuits, the Commission decided to regulate with weapons. Coercion and litigation follow the lines instead of taking the cautious, diverse approach required in such a dynamic and complex technology industry. Unilaterally labeling certain tokens and services as securities – even tokens and services over which other US authorities have asserted jurisdiction, which only makes matters worse. This topic is more complicated. Perhaps most surprising is that the actions of the SEC will undermine America’s role as a global hub for innovation and financial leadership. Digital asset law remains largely undeveloped in many parts of the world, and enforcement by law is not the best way forward. An effective regulatory framework requires collaborative, transparent, and prudent policy engagement—and this is exactly the path the SEC has abandoned. In addition, it is clear: any allegation that user assets on the Binance.US platform were ever at risk – are untrue, and there is no justification for the actions of the Investigative Officer despite the fact. these Officers had plenty of time to conduct their investigation. All user assets on Binance and its affiliated platforms, including Binance.US, are safe and secure, and we will vigorously refute any allegations against these. Instead, the SEC’s actions here appear to be an attempt to rush judicial claims from other regulators—and it appears that the SEC’s priority here is not investors. . Due to its size and global recognition, Binance is an easy target in the midst of a US legal battle. Based on these developments, it seems that the SEC’s goal here was never to protect investors; because if really interested, the Investigator will carefully negotiate with us the facts and efforts that Binance brings to prove the safety and security of the Binance.US platform. Instead, the SEC’s real purpose here seems to be just to make a name for itself. We will continue to work with regulators and policymakers in the United States and globally because that is the right thing to do. Additionally, Binance remains committed to engaging effectively to ensure next-generation cryptocurrency regulation drives innovation, while still enforcing and ensuring critical protections for consumers. Since Binance is not a US exchange, the SEC’s actions will be limited in scope. However, we will stand with digital asset market participants in the United States to oppose the latest SEC violation and stand ready to fight it within the scope of regulatory compliance. the law. We will work with industry partners to protect this important technology from false claims. In addition, we will maintain our unremitting efforts to provide a safe and reliable platform for users, and the platform will always stay true to Binance’s core value of promoting self-reliance. due to currency. Source: Binance
Source: Collector
