{"id":455697,"date":"2023-11-09T07:52:23","date_gmt":"2023-11-09T07:52:23","guid":{"rendered":"https:\/\/insidebitcoins.com\/?p=455697"},"modified":"2023-11-09T07:52:23","modified_gmt":"2023-11-09T07:52:23","slug":"sec-says-binance-arguments-to-dismiss-lawsuit-are-absurd-have-no-basis-in-law","status":"publish","type":"post","link":"https:\/\/insidebitcoins.com\/news\/sec-says-binance-arguments-to-dismiss-lawsuit-are-absurd-have-no-basis-in-law","title":{"rendered":"SEC Says Binance Arguments To Dismiss Lawsuit Are ”Absurd,” Have No Basis In Law"},"content":{"rendered":"

The Securities and Exchange Commission (SEC) said arguments made by Binance to dismiss its lawsuit are ”absurd” and have no basis in law.<\/p>\n

The SEC is pushing back against an attempt by Binance to dismiss the lawsuit, saying the exchange has a “tortured interpretation of the law” in a recent filing<\/a>. It added that a ruling to dismiss the lawsuit would “dismantle decades of foundational precedent upon which the nation’s securities laws operate.”<\/p>\n

The SEC filed a lawsuit<\/a> against Binance and its CEO, Changpeng Zhao in June. The charges include operating an unregistered exchange and offering unregistered securities: BNB and BUSD.<\/p>\n

Binance later filed a motion to dismiss the lawsuit, accusing the SEC of regulatory overreach. The exchange blamed the SEC for a lack of clear crypto regulations, misinterpreting securities laws, and applying them to crypto.<\/p>\n

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🤷‍♂️<\/p>\n

Binance v. SEC: Paradigm Files Amicus Brief, Accuses SEC Of Regulatory Overreach https:\/\/t.co\/PjGv6QFZX6<\/a><\/p>\n

— CZ 🔶 BNB (@cz_binance) September 30, 2023<\/a><\/p><\/blockquote>\n