‘All of the SEC’s claims fail’ — Binance.US rebuts motion to freeze funds

Binance US Fights SEC Motion to Freeze Funds

Binance US is currently engaged in a legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC has filed a motion to freeze funds held by Binance US, and Binance US is fighting back with a restraining order.

In its motion to freeze funds, the SEC claims that Binance US has been operating as an unregistered broker-dealer and has been selling securities without being properly licensed. Binance US has rebutted these claims, arguing that it is not a broker-dealer and does not offer any securities.

Binance US has also argued that the SEC’s motion to freeze funds is an overreach of its authority. The company has stated that the SEC’s motion is “a gross abuse of process and a violation of the company’s due process rights.”

Binance US is seeking a restraining order to prevent the SEC from freezing its funds. The company has argued that the SEC’s motion is an attempt to “undermine the company’s ability to operate and conduct business in the United States.”

The legal battle between Binance US and the SEC is still ongoing, and it remains to be seen how the court will rule on the case. In the meantime, Binance US is continuing to fight the SEC’s motion and is determined to protect its funds.

Binance US Arguments Against the SEC

Binance US is arguing that the SEC’s motion to freeze funds is too broad and would cause irreparable harm to the company and its customers. They argue that the SEC has not provided sufficient evidence to support its motion, and that the motion is overly broad and could have a negative impact on the company and its customers.

Binance US is also arguing that the SEC has failed to provide any evidence that the company has violated any laws or regulations, and that the SEC’s motion is based on speculation and conjecture rather than facts.

Binance US is also arguing that the SEC’s motion is an abuse of process, as the SEC has not provided any evidence that the company has committed any wrongdoing. They argue that the SEC’s motion is an attempt to stifle competition and to prevent Binance US from competing in the US cryptocurrency market.