Binance.US and its affiliates request the court to dismiss the SEC's money laundering trading allegations

2023-09-22 08:53:24

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According to ChainCatcher, The Block reported that Binance.US and its affiliates have requested the U.S. District Court for the District of Columbia to dismiss the lawsuit filed by the Securities and Exchange Commission (SEC), claiming that the allegations regarding money laundering transactions are unfounded.

In June, the SEC charged Binance.US, associated with Binance Holdings Limited and BAM, with lying about preventing market manipulation and allowing the undisclosed market-making firm Sigma Chain (owned by Changpeng Zhao) to engage in money laundering transactions.

Lawyers representing Binance Holdings Limited and BAM stated in the motion to dismiss that, aside from conclusive allegations and references to isolated instances of interactions with Sigma Chain accounts, the complaint does not provide specific allegations regarding Sigma Chain's alleged misconduct. Although the SEC's false trading allegations carry sensational labels, they lack factual basis. Therefore, the lawsuit should be dismissed.

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Binance.US U.S. SEC

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