- The court denied the SEC’s request for a TRO and to freeze assets.
- The SEC’s lawsuit has damaged the business and reputation of the crypto exchange.
The U.S. Securities and Exchange Commission filed a lawsuit against the world’s largest crypto exchange, Binance. The SEC’s ongoing lawsuit against the leading crypto exchange has gained significant attention within the crypto community.
On June 17, the crypto exchange shared an update on the ongoing lawsuit. Binance stated that the court denied the SEC’s request to TRO and freeze assets on its platform, which was unjustified by both the facts and the law.
Binance will Fight Till the End
The crypto exchange Binance is defending itself against the SEC’s lawsuit. In a recent update, Binance shared that the SEC’s lawsuit has damaged the business and reputation of the crypto exchange.
Binance mentioned that the exchange was able to reach the court-ordered agreement with the SEC that allows it to continue its ordinary course of business. Moreover, the SEC has never presented any evidence on the allegation that the exchange misused customer assets. Even the SEC lawyers admitted that they had no proof that something like this had happened when questioned about it earlier this week.
In the update, the crypto exchange expressed that the SEC’s request would have the efficiency to shutter its business. The SEC continued its efforts to bring down the cryptocurrency industry, even by presenting false accusations.
The SEC’s continuous allegations about the crypto industry had a massive impact on the market. Especially the crypto exchange Binance has experienced huge damage. Moreover, the exchange has stated that it will keep fighting to defend itself from the lawsuit. The whole crypto community is waiting for the end of the lawsuit.
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