The SEC Disputes Binance’s Attempt to Dismiss Lawsuit
The United States Securities and Exchange Commission (SEC) has opposed Binance’s arguments to dismiss the lawsuit, stating that the motion lacks a valid legal basis. In a court filing on November 8, the securities regulator claims that the defendants have misapplied the law in an effort to evade charges, and that no court in the United States has supported this erroneous legal argument, referring to it as a “tortured interpretation of the law.”
The Commission initially filed charges against Binance in June, accusing the exchange of violating federal securities law by providing trading services for unregistered securities and commingling assets, among other allegations. Coinbase faced similar charges the following day, and both exchanges expressed their intent to vigorously defend their actions and seek clear crypto regulations from the courts. Binance subsequently filed a motion to dismiss the lawsuit.
