Binance Goes Offensive Against SEC
The legal team representing the defendants in the ongoing litigation between the SEC and major crypto exchange Binance has taken an aggressive stance, accusing the regulator of unethical behaviour.
Binance has joined forces with Ripple, another prominent cryptocurrency company currently embroiled in a legal battle with the SEC.
According to attorney and legal expert James Murphy, also known as MetaLawMan, Binance’s recent motion marks a significant turning point in the case.
According to the exchange, the regulator broke court rules by making false statements outside of the courtroom that were specifically intended to harm Binance US’ customers and potentially influence the jury pool.
The SEC issued a misleading press release after an agreement, claiming emergency relief and allegations against Changpeng Zhao, the exchange’s head, regarding mishandling of customer assets. Binance denies these allegations and argues that the SEC failed to provide concrete evidence during court proceedings. Former heads of the SEC’s Division of Enforcement are also presenting allegations of unethical conduct, which could send shockwaves through the SEC. Legal experts predict that the SEC will respond to Binance’s allegations with equal force, similar to the ongoing Ripple case.
(With inputs from Shikha Singh)
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