The SEC opposes Binance's motion to dismiss the money laundering charges

2023-11-08 21:05:38

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ChainCatcher news, former SEC Internet Enforcement Director John Reed Stark tweeted that court documents show that the SEC opposes Binance's motion to dismiss. The comprehensive complaint is strong, convincing, and has factual and legal basis.

At the same time, the legal documents recently submitted by the SEC indicate that Binance and its CEO Changpeng Zhao operated a securities trading platform in the U.S. without registration, violating Section 5 of the Securities Act. The SEC alleges that Binance provided and sold BNB tokens to U.S. investors through its employees and induced investors to purchase through cryptocurrency investment projects like BUSD, constituting unregistered investment contract sales. The SEC requests the court to deny Binance's motion, uphold the securities legal framework, and impose legal sanctions on the responsible parties.

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