<p>Binance is currently facing legal action brought by the SEC. The reason behind the lawsuit is the trading of tokens deemed as securities. Binance CEO has responded to these accusations, while the platform has expressed its disappointment with the filed complaint by the SEC.</p><div class="thumbnail post-cover-image"><img src="https://www.cointribune.com/app/uploads/2023/06/binance-sec-1024x683.png" srcset="https://www.cointribune.com/app/uploads/2023/06/binance-sec-1024x683.png 1024w, https://www.cointribune.com/app/uploads/2023/06/binance-sec-300x200.png 300w, https://www.cointribune.com/app/uploads/2023/06/binance-sec-768x512.png 768w, https://www.cointribune.com/app/uploads/2023/06/binance-sec.png 1200w" sizes="(max-width: 1024px) 100vw, 1024px" class="post-cover-image--img" alt="SEC files complaint against Binance"></div><div class="my-4"></div>



<figure class="wp-block-image size-full"><img decoding="async" width="577" height="396" src="https://www.cointribune.com/app/uploads/2023/06/tweet-pdg-binance.jpg" alt="" class="wp-image-607369" srcset="https://www.cointribune.com/app/uploads/2023/06/tweet-pdg-binance.jpg 577w, https://www.cointribune.com/app/uploads/2023/06/tweet-pdg-binance-300x206.jpg 300w" sizes="(max-width: 577px) 100vw, 577px"><figcaption class="wp-element-caption">Changpeng Zhao, CEO of Binance, speaks out on the SEC lawsuit (Source: <a href="https://twitter.com/cz_binance/status/1665742100845961217" target="_blank" rel="noreferrer noopener">Twitter</a>)</figcaption></figure>



<h2 id="h-sec-accuses-binance-of-facilitating-the-trading-of-tokens-labeled-as-securities">SEC accuses Binance of facilitating the trading of tokens labeled as securities</h2>



<p>Considered as <strong>the largest cryptocurrency exchange</strong>, Binance often finds itself at the center of <a href="https://www.cointribune.com/binance-lexchange-crypto-au-coeur-dune-nouvelle-polemique/" target="_blank" rel="noreferrer noopener">numerous controversies</a>. Currently, its CEO, Changpeng Zhao, and the platform itself are facing legal action initiated by the SEC.</p><div class="my-4"><div class="ads ">
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<p>The SEC accuses Binance of <strong>facilitating trading activities for several popular tokens considered as securities</strong>. The list includes:</p>



<ul>
<li>BNB,</li>



<li>BUSD,</li>



<li>SOL,</li>



<li>ADA,</li>



<li>MATIC,</li>



<li>FIL,</li>



<li>ATOM,</li>



<li>SAND,</li>



<li>MANA,</li>



<li>ALGO,</li>



<li>AXS,</li>



<li>COTI.</li>
</ul>



<p>In <a href="https://www.docdroid.net/I02zzqT/sec-v-binance-4-pdf#page=85" target="_blank" rel="noreferrer noopener">its complaint</a> against Binance, the SEC specifies an important point: <strong>the accusations do not concern tokens with significant trading volumes</strong>. This category includes ETH, USDC, USDT, and LTC.</p>



<p>“<em>Binance has offered coin gain programs such as BNB Vault and Simple Earn, as well as a staking investment plan</em>,” explains the regulator.</p>



<h2 id="cz-and-binance-address-the-lawsuit">CZ and Binance address the lawsuit</h2>



<p>As usual, Changpeng Zhao reacted on Twitter. “<em>The Binance team is actively monitoring and maintaining platform stability,</em>” he stated. To reassure users, he affirms that the ongoing procedure <strong>will not affect withdrawal and deposit functionalities</strong>. Additionally, Binance will release a comprehensive response after reviewing <a href="https://www.cointribune.com/crypto-la-sec-depose-plainte-contre-10-societes/" target="_blank" rel="noreferrer noopener">the complaint filed by the SEC</a>.</p>



<p>On <a href="https://www.binance.com/en/blog/ecosystem/sec-complaint-aims-to-unilaterally-define-crypto-market-structure-8707489117122437402" target="_blank" rel="noreferrer noopener">its blog</a>, Binance asserts that it will continue to cooperate with regulators and defend the technology against legal actions. “<em>Our priority is to provide a secure platform while promoting financial freedom,</em>” he emphasizes. The company assures its users that their assets on Binance and <strong>its affiliated platforms are secure</strong>.</p>



<p>These <a href="https://www.cointribune.com/la-sec-charge-binance-et-cz/" target="_blank" rel="noreferrer noopener">legal actions against Binance</a> demonstrate one thing: the SEC is closely monitoring cryptocurrency companies. The question remains whether the method employed is the right one or not. Stay tuned for more updates on this case…</p>

Binance CEO counters: Changpeng Zhao speaks out on SEC lawsuit

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