News Explorer — Binance, CEO Zhao File to Dismiss SEC Lawsuit

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Sep 22, 10:28 am

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Binance, CEO Zhao File to Dismiss SEC Lawsuit

Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss the SEC's lawsuit against them, arguing that the SEC exceeded its authority and failed to provide clear guidelines for the crypto industry. The 60-page petition claims that the SEC is retroactively imposing its regulatory authority and seeking to enlarge its jurisdiction globally. Binance.US has also faced pressure from the SEC, resulting in a significant decline in trading volumes and recent layoffs.

Binance and its CEO, Changpeng Zhao, have filed a motion to dismiss the SEC's lawsuit against them, arguing that the SEC exceeded its authority and failed to provide clear guidelines for the crypto industry. The 60-page petition claims that the SEC is retroactively imposing its regulatory authority and seeking to enlarge its jurisdiction globally. Binance.US has also faced pressure from the SEC, resulting in a significant decline in trading volumes and recent layoffs.

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