In response to the recent lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance, the cryptocurrency exchange has issued a statement expressing its disappointment.
Binance claims to have actively cooperated with SEC investigations and worked diligently to answer your questions and address your concerns.
The brokerage also states that it engaged in extensive discussions in good faith to reach a negotiated settlement and resolve the investigations. However, the SEC chose to act unilaterally and file the lawsuit, halting the negotiation process.
Binance has expressed its frustration with this choice.
“We are disappointed that the U.S. Securities and Exchange Commission has chosen to file a complaint against Binance today, including seeking alleged emergency assistance.” – said Binance.
Binance criticizes SEC
The company also stressed that it takes the SEC’s allegations seriously, but believes they do not warrant emergency action or enforcement.
In criticizing the SEC’s refusal to engage productively and provide much-needed clarity and guidance to the digital asset industry, Binance said it intends to “vigorously” defend itself.
In its market filing, Binance argues that the SEC’s approach to unilaterally designate certain tokens and services as securities, even when other US authorities have already declared jurisdiction over them, exacerbates the industry’s problems.
Therefore, Binance stressed that regulation through enforcement actions and litigation is not the right approach to deal with this dynamic and complex technology.
The company also expresses concern about the impact of the SEC’s actions on the United States’ role as a global center for innovation and financial leadership. Binance argues that digital asset laws are still underdeveloped in much of the world and that an effective regulatory framework requires collaboration and transparent political engagement, something the SEC appears to have abandoned.
Next, Binance clarifies that claims that user assets on the Binance.US platform were compromised are false. It ensures that all user assets on Binance and its affiliate platforms, including Binance.US, are safe.
Finally, the company reaffirms its commitment to working with regulators and policymakers in the United States and around the world.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
