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Murtuza Merchant

Binance Lawyers Accuse SEC Of Breaking Conduct Rules In Lawsuit

Binance SEC Lawsuit United States Changpeng Zhao

The Binance logo is displayed on a smartphone screenThe SEC has no evidence that BAM (Binance.US) customer assets have been dissipated, commingled or misused in any way,. PHOTO BY RAFAEL HENRIQUE/GETTY IMAGES

Attorneys for Binance.US, Binance Holdings Ltd., and CEO Changpeng Zhao are blasting the U.S. Securities and Exchange Commission (SEC) for putting out “misleading” information and not adhering to the “applicable rules of conduct.”

A court filing, dated June 21, shows the attorneys taking issue with a statement made by SEC Enforcement Director Gurbir Grewal, in which he insinuated that Zhao and Binance are at liberty to “commingle customer assets or divert customer assets as they please.”

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