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19 February 2024

HomeLatest NewsBinance to face off against US securities regulator in court

Binance to face off against US securities regulator in court

Binance to face off against US securities regulator in court

Binance to face off against US securities regulator in court

WASHINGTON: (Reuters) Binance is due to square off against the U.S. Securities and Exchange Commission (SEC) in a Washington courtroom next week, in another high-profile hearing involving the agency and a crypto exchange that could define how cryptocurrencies are regulated.

The world’s largest crypto exchange previously asked federal Judge Amy Berman Jackson to toss out a lawsuit the SEC filed in June alleging Binance broke its rules and is expected to make its case for dismissal before her on Monday.

The regulator accused Binance, its CEO and founder Changpeng Zhao and the exchange’s U.S. arm of artificially inflating its trading volumes, diverting customer funds, failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls.

It also accused Binance of unlawfully facilitating the trading of several crypto tokens the SEC deemed unregistered securities.

The hearing had originally been slated for Friday but was postponed due to snow in the Washington, D.C., area, the court said in a notice. It has been rescheduled for Monday, Jan. 22 at 10 a.m. EST (1500 GMT), the notice said.

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