News - Binance defends itself against SEC charges

By Mike Hesp

Binance defends itself against SEC charges

Laws and regulations
USA

One of the SEC's charges against Binance is mixing customer funds. The crypto exchange rejects the accusation.

Binance.US has denied allegations of commingling customer funds.

In a Twitter post on Wednesday, Changpeng Zhao, chief executive of Binance, described the accusation as "misleading." He said assets of Binance customers had not been transferred outside the United States.

From leaked court records would also reveal that the SEC has no evidence of such money flows: "We see no money flows outside the U.S."

"The SEC's statement that the defendants were able to commingle or divert customer funds at will directly contradicts the SEC's statements to the court that the SEC has no evidence that this was ever the case," Binance said.

Binance.US is currently the subject of several lawsuits, including for unauthorized securities trading, commingling of customer assets and wash trading.

Meanwhile, activity on Binance.US continues temporarily.

Download the Anycoin App

Finally, a crypto app for everyone!

Check it out