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The post <a rel="nofollow" href="https://coinpedia.org/news/binance-bolsters-legal-defense-team-with-former-doj-prosecutor-amid-sec-lawsuit/">Binance Bolsters Legal Defense Team with Former DOJ Prosecutor Amid SEC Lawsuit</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Binance Holdings Ltd., the world’s largest cryptocurrency exchange, has <a href="https://www.bloomberg.com/news/articles/2023-06-22/binance-hires-former-justice-department-prosecutor-in-sec-fight">enlisted </a>the services of a former Department of Justice (DOJ) white-collar prosecutor to represent them in the Securities and Exchange Commission (SEC) lawsuit, according to a court filing released on Thursday. M. Kendall Day, currently a partner at Gibson Dunn &amp; Crutcher’s Washington, DC, office, will serve as Binance’s counsel in the SEC case, as reported by Bloomberg. 
During his 15-year tenure at the DOJ, Day held prominent positions, including acting deputy assistant attorney general at the Criminal Division and chief of the Money Laundering and Asset Recovery Section. His responsibilities involved overseeing the department’s anti-money laundering initiatives and handling related charges, deferred prosecution agreements, and non-prosecution agreements with financial institutions, as mentioned on the Gibson Dunn website. 
In recent weeks, both Binance and its affiliated exchange, Binance.US have been strengthening their legal teams in preparation for the SEC case. The company has also brought on board George Canellos, a former co-director of enforcement at the SEC. 
The SEC’s charges against Binance, CEO Changpeng Zhao, and Binance.US alleges mishandling of customer funds, the provision of misleading information to investors and regulators, and violations of securities regulations. The regulatory body is also seeking the return of cryptocurrency owned by US customers. 
<h2 class="wp-block-heading" id="h-binance-pushes-out-development-updates-amidst-sec-scrutiny">Binance pushes out development updates amidst SEC scrutiny</h2> 
Binance has been under scrutiny by various US agencies, including the DOJ, as part of ongoing investigations. Binance.US has recently reached a mutual agreement with the Securities and Exchange Commission (SEC) that introduces limitations on the access of Binance Global officials to customer funds. 
Despite the ongoing regulatory hurdles, Binance is enthusiastically pushing out updates. Binance has announced its intention to integrate the Bitcoin (BTC) Lightning Network, as confirmed in a recent Twitter <a href="https://twitter.com/binance/status/1671042638592589826">post</a>. 
The exchange responded to observant users who noticed its Lightning Nodes, acknowledging that work on the integration has begun but emphasizing that there is still substantial progress to be made. As a leading player in the crypto industry, Binance remains committed to promoting innovative solutions that facilitate the broader adoption of cryptocurrencies.

Binance Bolsters Legal Defense Team with Former DOJ Prosecutor Amid SEC Lawsuit

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