<ul><li>Binance submitted a filing to the U.S. District Court, countering the SEC&#39;s attempt to link its $4.3 billion DOJ and FinCEN settlement to ongoing SEC allegations.</li><li>The firm argued that the SEC&#39;s use of the settlement is procedurally improper and irrelevant to the charges of mishandling funds and violating securities laws.</li><li>The firm’s defense highlighted the distinct legal frameworks of the Bank Secrecy Act and U.S. securities laws, challenging the SEC&#39;s extraterritorial application of its claims.</li></ul>Binance, a major player in the cryptocurrency exchange market, recently submitted a <a href="https://t.co/43fVXGbcQV" rel="noopener noreferrer nofollow">filing</a> to the U.S. District Court for the District of Columbia. This move came in response to the Securities and Exchange Commission&#39;s (SEC) <a href="https://t.co/ERir16FjMR" rel="noopener noreferrer nofollow">efforts</a> to leverage Binance&#39;s <a href="https://www.jdsupra.com/legalnews/doj-reaches-groundbreaking-criminal-7542698/" rel="noopener noreferrer nofollow">$4.3 billion settlement</a> with the U.S. Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) in their ongoing legal battle against the crypto exchange.In the <a href="https://www.nytimes.com/2023/11/21/technology/binance-changpeng-zhao-pleads-guilty.html" rel="noopener noreferrer nofollow">settlement</a> reached on November 21, Binance and its former CEO, Changpeng Zhao, acknowledged certain violations, but the firm is now arguing that these admissions are not relevant to the SEC&#39;s case. The SEC, which was not a party to the DOJ and FinCEN agreement, has sued Binance and Zhao, accusing them of mishandling customer funds, misleading investors and regulators, and violating securities laws.The recent filing by Binance and Zhao challenged the SEC&#39;s attempt to introduce new factual information and arguments through a &#34;Notice of Supplemental Authority.&#34; They argued that this move was procedurally improper and failed to establish a connection between the DOJ and FinCEN resolutions and the SEC&#39;s claims.Read full article at <a href="https://cryptotale.org/binance-fights-back-against-secs-use-of-doj-settlement-in-court-battle/" rel="noopener noreferrer nofollow">CryptoTale.</a>

Binance Fights Back Against SEC's Use of DOJ Settlement in Court Battle

CryptoTale

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