A U.S. judge told BinanceUS she didn't think she needed to 'wordsmith' SECGov press releases after the company took exception at a recent one from the regulator. lizknapolitano reports
on Friday, raising concerns over the SEC’s “misleading extrajudicial statements.”
“The SEC’s press release also appears to be designed to introduce unwarranted confusion into the marketplace, which will have the effect of harming BAM customers rather than protecting them,” Binance’s lawyers said. They added that “it also risks tainting the jury pool with misleading descriptions of the evidence concerning the Defendants.”that BAM customer assets have been dissipated, commingled, or misused in any way.”
The judge gave Binance until September 21 to respond to the SEC’s allegations. The SEC’s reply to the company’s pleading will be due November 7.in court. The SEC sued Binance, the world’s largest crypto exchange by trading volumes, on June 5, alleging the company and CEO Changpeng “CZ” Zhao violated federal securities laws, according to the complaint.
The SEC has sued several high-profile crypto companies in recent months, citing a need to protect investors from a risky, largely non-compliant industry.
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