Binance & SEC Clash Over Public Statements
Binance loses court battle, SEC to continue public commentary on securities case.
A US federal judge rejected a request from Binance to stop the US Securities and Exchange Commission (SEC) from making public statements about securities. Binance had accused the SEC of potentially misleading the public with its statements.
Judge Amy Berman Jackson denied Binance's motion. This means the SEC can continue making public statements about the case.
The case involves Binance US, Binance Holdings Limited and CEO Changpeng Zhao, known as "CZ," against the US SEC.
Judge Jackson found no need to intervene against the SEC's statements. The judge believed there was no clear impact on the case from the agency's public comments. She said the court doesn't need to control the parties’ press releases.
The SEC previously said that CZ and Binance could misuse customer assets. Binance took action after this statement. The SEC has made 13 allegations against Binance, including offering unregistered securities to US customers.
CZ expressed relief over issues related to Binance US and the unfreezing of its assets. Judge Jackson approved a consent order between Binance US and the SEC, meaning they have reached a solution to the SEC’s concerns.
CZ also acknowledged a new tax exemption for token issuers in Japan. They will not have to pay a 30% tax on their cryptocurrency earnings.
