James

<p>The post <a rel="nofollow" href="https://coinpedia.org/news/crypto-vs-sec-is-binance-joining-hands-with-ripple-against-secs-regulatory-battle/">Crypto Vs SEC: Is Binance Joining Hands With Ripple Against SEC’s Regulatory Battle</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a recent development related to the legal dispute between the Securities and Exchange Commission (SEC) and Binance, a major cryptocurrency exchange, the legal team representing Binance has taken an assertive approach by accusing the regulator of engaging in unethical behavior. This aligns Binance with Ripple, another prominent cryptocurrency company currently facing legal challenges from the SEC.</p> 
<h2 class="wp-block-heading" id="h-binance-is-ready-to-put-up-a-fight">Binance is ready to put up a fight</h2> 
<p>According to legal expert James Murphy, aka MetaLawMan, the recent motion filed by Binance’s lawyers marks a significant turning point in the case. Binance alleges that the SEC violated court rules by making false statements outside of the courtroom, with the intention of harming Binance US’ customers and potentially influencing the jury pool.</p> 
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">Bottom line:<br><br>This is just the beginning.<a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a> is clearly going on offense.<br><br>The <a href="https://twitter.com/binance?ref_src=twsrc%5Etfw">@Binance</a> lawyers are signaling to the SEC that they will be in for a real fight–just like the <a href="https://twitter.com/Ripple?ref_src=twsrc%5Etfw">@Ripple</a> case.</p>— MetaLawMan (@MetaLawMan) <a href="https://twitter.com/MetaLawMan/status/1671898129040302082?ref_src=twsrc%5Etfw">June 22, 2023</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script> 
 </div>
</figure> 
<p>One of the key contentions is the SEC’s issuance of a misleading press release following an agreed-upon court order. The press release claimed that the regulator had obtained “emergency relief” and made allegations against Changpeng Zhao, the head of Binance, regarding the mishandling of customer assets. Binance strongly denies these allegations and argues that the SEC failed to present concrete evidence to support their claims during court proceedings.</p> 
<p>Notably, allegations of unethical conduct are being made by former officials from the SEC’s Division of Enforcement. Murphy believes that the gravity of these allegations, coming from respected legal professionals, will have a significant impact on the SEC. He anticipates that the SEC will respond to Binance’s accusations with equal force, mirroring its approach in the ongoing Ripple case.</p> 
<p>In other news, Binance.US has successfully addressed the issue of delayed US dollar withdrawals, which had arisen due to the lawsuit filed by the US Securities and Exchange Commission (SEC) against Binance and CEO Changpeng Zhao, resulting in asset freezing.</p> 
<p>In a recent development on June 17, the court granted permission for the exchange to resume its operations in the US, albeit with certain conditions. However, prior to this ruling, several banking partners had already withdrawn their support when Binance.US temporarily suspended USD deposits.</p>

Crypto Vs SEC: Is Binance Joining Hands With Ripple Against SEC’s Regulatory Battle

Table of Contents

CoinPedia News

Other articles published on Jun 23, 2023

Cardano Price Prediction: ADA Price On The Verge To Crash 65%, Analyst Maps Bottom Levels

Become A Crypto Whale By Investing In Arbitrum (ARB), DigiToads (TOADS) and Chainlink (LINK)

Crypto Market Update: 3 Cryptocurrencies to Approach with Caution

Radiant Meets Magpie: Empowering Omnichain DeFi (Radpie)

Prime Trust insolvency fears, Nevada regulator issues cease-and-desist order

Crypto Market Reactivates: Bitcoin Surges, Some Altcoins Fall

Join our free newsletter for daily crypto updates!