Binance vs SEC: Binance's Stance Shifts to an Aggressive Approach?

Binance denies SEC's false allegations in U.S. lawsuit over customer assets

However, Binance and its legal team vehemently denied these allegations, further alleging a conflict of interest with SEC Chairman Gary Gensler. Additionally, Binance asserted that Gensler had sought an informal advisory position with the exchange prior to taking over as chair of the SEC. When dealing with the SEC, Binance acted aggressively. In the US District Court for the District of Columbia, the exchange and its legal team argued that the SEC had disseminated false statements regarding the management of customer assets. Binance emphasized that the SEC's allegations of unauthorized commingling or diversion of customer assets were not supported by any evidence. These actions by Binance demonstrate its strong response to the SEC's alleged false accusations, which could have an impact on the pool of potential jurors. Additionally, Binance's legal team has asserted that the SEC broke both its own code of conduct and the rules of the court.

Binance seeks to stop SEC from making public statements in U.S. court

The judge's approval of Binance's motion could prevent the SEC from making certain public statements. Binance asserted that these statements would cause confusion in the market. Binance, the SEC, and the cryptocurrency industry will undoubtedly benefit greatly from the outcome of this legal dispute. The ongoing legal battle has already damaged the exchange's reputation, despite some positive regulatory developments. Since the exchange failed to obtain a license to operate as a virtual asset service provider (VASP) in the Netherlands, several nations have begun to distrust it. Additionally, the token had a negative Market Value to Realized Value (MVRV) ratio. This suggested that the majority of BNB holders were not making any money right now.