Binance has released a strong worded official response to US SEC litigation against the global crypto exchange. Binance expresses its disappointment with the regulatory body, describing its action as an act to unilaterally define crypto structure.
The Crypto exchange platform also accused the commission of rushing to make headlines with concluding investigations. Binance notes that it gave the SEC free access to look into its US activities.
In the press release, Binance stated that it’s ready to vigorously defend it’s platform.
“We intend to defend our platform vigorously. Unfortunately, the SEC’s refusal to productively engage with us is just another example of the Commission’s misguided and conscious refusal to provide much-needed clarity and guidance to the digital asset industry. “
It also condemns the Commission’s determination to ” regulate with the blunt weapons of enforcement and litigation rather than the thoughtful, nuanced approach demanded by this dynamic and complex technology. Unilaterally labeling certain tokens and services as securities – even ones over which other U.S. authorities have asserted jurisdiction – only compounds these problems.”
Binance warned that SEC actions is undermining America’s role and global hub for financial innovation and leadership. It called for transparent regulation. Accusing the Commission for lacking in transparency.
Also Read: SEC Files 13 Charges Against Binance For Breach Of Us Operational Laws.
“An effective regulatory framework demands collaborative, transparent, and thoughtful policy engagement—a path the SEC has abandoned,” it stated.
It stated that any allegations that users assets with Binance are at risk.
“All user assets on Binance and Binance affiliate platforms, including Binance.US, are safe and secure, and we will vigorously defend against any allegations to the contrary. ,” the statement stated
Binance notes that it will continue to cooperate with regulatory agencies across the globe as it is the right thing. Also noting that ” we stand with digital asset market participants in the U.S. in opposition to the SEC’s latest overreach, and we are prepared to fight it to the full extent of the law.
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