In a blog post, Binance expressed its disappointment about the SEC complaint, which includes a request for emergency relief. Binance said it has actively cooperated with the SEC’s investigations and aimed to reach a negotiated settlement and resolve its investigations. The SEC would have chosen to regulate the digital asset space through enforcement and litigation rather than establishing a regulatory framework for the crypto industry.
While Binance takes the SEC’s allegations seriously, they believe they should not be the basis for enforcement action, particularly on an emergency basis. Binance presents itself ready for war and is fully committed to vigorously defending our platform. The SEC’s refusal to engage with Binance in a productive manner would be just another example of the Commission’s failure to provide the much-needed clarity and guidance required by the digital asset industry.
According to Binance, recent developments show that the SEC’s goal was never truly focused on investor protection. Instead, it seems the SEC’s true intent is to generate headlines.
The SEC’s actions would undermine the position of the U.S. as a global center for financial innovation and leadership. According to Binance, the SEC failed to establish a successful regulatory framework for the crypto sector. As a prominent and globally recognized platform, Binance has become an easy target amid a regulatory tug-of-war.
However, as Binance is not a U.S. exchange, the reach of the SEC’s actions is limited. Nevertheless, we stand alongside digital asset market participants in the U.S., opposing the SEC’s overreach, and we are prepared to fight it within the bounds of the law.