• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

Bitcoin and Crypto ROCKED By Unexpected Fued

2025-06-05

What Is Crypto Staking? How to Earn Crypto by Holding It

2025-06-05

ELON vs TRUMP: Will Bitcoin Be the Winner?

2025-06-05

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What Is Crypto Staking? How to Earn Crypto by Holding It

    2025-06-05

    What Are Liquidity Pools? A Guide to DeFi Explained Simply

    2025-06-05

    What Is Yield Farming in Crypto? A Beginner’s Guide to DeFi Income

    2025-06-02

    What Is Asset Tokenization? Types, Why It Matters Now [2025]

    2025-05-30

    What Is Crypto Margin Trading? A Beginner-Friendly Guide to Leverage

    2025-05-26
  • Videos

    Bitcoin and Crypto ROCKED By Unexpected Fued

    2025-06-05

    ELON vs TRUMP: Will Bitcoin Be the Winner?

    2025-06-05

    ⚡️ Welcome to the Thunder Drone: Autonomy Era Begins 🤖

    2025-06-05

    The U.S. Government Is SEIZING YOUR Bitcoin!

    2025-06-05

    Trump Draining The Swamp?

    2025-06-05
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»NFT»Binance’s SEC Motion on ‘Misleading Language’ Denied
NFT

Binance’s SEC Motion on ‘Misleading Language’ Denied

2023-06-27No Comments4 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email

In a recent development in the ongoing legal battle between Binance — the world’s largest cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC) — a U.S. District Court judge has denied a motion by the exchange that sought to limit or prevent the SEC from issuing public statements about the case. The decision represents another defeat in a series of blows for Binance, which has been dealing with forced exits and investigations in European countries and mass layoffs in the U.S. in recent weeks.

“While all of the lawyers in this case should adhere to their ethical obligations at all times, it is not apparent […] that it is necessary or appropriate for the Court to get involved in wordsmithing the parties’ press releases,” Judge Amy Berman Jackson said in a statement issued on June 26. “Nor is it clear that the agency’s public relations efforts to date will materially affect proceedings in this case.”

Deepening legal woes

The SEC filed a civil lawsuit against Binance on June 5, detailing 13 separate charges. The accusations ranged from mismanagement of customer funds to deception towards regulators and investors about its operations. The SEC alleged that Binance and its CEO, Changpeng Zhao, also known as “CZ,” engaged in an extensive web of deception, are guilty of myriad conflicts of interest, exhibited a lack of proper legal disclosure, and more.

In response, Binance accused the SEC of deliberately misleading the public through statements it made surrounding the lawsuit. The exchange’s legal team filed a motion on June 21 alleging misconduct in the form of a press release from the regulator, in which the SEC had accused Binance and CZ of commingling customer assets after reaching a settlement deal to avoid freezing assets of Binance.US customers in exchange for greater transparency and oversight.

See also  How Bored Ape Creator Yuga Labs Plans to Get to the 'Otherside'

Binance argued that the regulator’s press release appeared “to be designed to introduce unwarranted confusion into the marketplace” and also “risks tainting the jury pool with misleading descriptions of the evidence concerning the Defendants.”

Binance and the SEC’s hearing dates

Judge Jackson also announced that Binance must prepare its defense by September 21, 2023, and will allow the SEC to provide counterarguments on November 7.

The judge’s decision to deny Binance’s motion came just three business days after it was filed and did not require a response from the SEC. Some observers, including the former chief of the SEC Office of Internet Enforcement, John Reed Stark, interpreted the speed of the motion’s denial as evidence of it being “frivolous” and more akin to “marketing theater” than anything legally substantial.

SEC/Binance Newsflash: Binance Motion Alleging SEC Misconduct (Quickly) Denied

Last week, Binance filed a motion in the US SEC/Binance enforcement action asking that Judge Amy Berman Jackson prevent SEC attorneys from making public statements asserting that Binance and CZ have… pic.twitter.com/RFy5Qfo454

— John Reed Stark (@JohnReedStark) June 26, 2023

This lawsuit against Binance is the latest in a series of actions by U.S. regulators ostensibly aimed at bringing order to a largely unregulated cryptocurrency trading space. While regulators’ stated objective is to ensure that major players in the industry adhere to U.S. laws, there has been much debate and dissent about their approach to doing so, even within the SEC’s own leadership, as to whether or not the organization’s “regulation by enforcement” policy is either effective or fair.

See also  Ripple accuses SEC of weaponizing the company’s quarterly reports in court

Legal experts believe that Binance — alongside Coinbase and other exchanges and Web3 organizations currently under the regulatory magnifying glass — faces a steep uphill battle. The outcome of these lawsuits could set a precedent for how digital asset exchanges are regulated in the U.S. in the future.

Editor’s note: This article was written by an nft now staff member in collaboration with OpenAI’s GPT-4.

Binances denied Language misleading Motion SEC
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

The SEC Has Made a Decision To Delay The XRP ETF Approval! What This Means

2025-04-30

Crypto News: Bull Market Back On?! XRP’s BIG Move, SEC Changes & More!

2025-03-24

SEC Drops Case Against Ripple (XRP PUMPS)

2025-03-19

This SEC Dismissal is a HUGE WIN For Bitcoin and Crypto

2025-02-21
Add A Comment

Leave A Reply Cancel Reply

Top Posts
Regulation

Financial Stability Board releases framework for global crypto-asset regulation

2023-07-17

The Financial Stability Board, an international body that monitors and makes recommendations about the global…

Videos

BTC & ETH: MORE PAIN….? (Bull Market Back On?)

2024-05-17

I will show you how I make significant gains in the crypto market! You want…

DeFi

COMP price jumps as Compound DeFi TVL slips to 2021 lows

2023-07-10

Compound, a DeFi heavyweight, has done well in the past few weeks even as the…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

Bitcoin and Crypto ROCKED By Unexpected Fued

2025-06-05

What Is Crypto Staking? How to Earn Crypto by Holding It

2025-06-05

ELON vs TRUMP: Will Bitcoin Be the Winner?

2025-06-05

Coinbase data breach spills offline as victims get scam mail

2025-06-05
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 106,356.50
ethereum
Ethereum (ETH) $ 2,535.66
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.28
bnb
BNB (BNB) $ 655.53
solana
Solana (SOL) $ 154.62
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.186407
tron
TRON (TRX) $ 0.283281
cardano
Cardano (ADA) $ 0.676491
bitcoin
Bitcoin (BTC) $ 106,356.50
ethereum
Ethereum (ETH) $ 2,535.66
tether
Tether (USDT) $ 1.00
xrp
XRP (XRP) $ 2.28
bnb
BNB (BNB) $ 655.53
solana
Solana (SOL) $ 154.62
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.186407
tron
TRON (TRX) $ 0.283281
cardano
Cardano (ADA) $ 0.676491