Binance.US Disputes SEC Asset Freeze Request
Date: 2023-06-13 Categories: BUSINESS
The company claims that such a decision "virtually puts an end" to its activities, and the subsidiary trading platform BAM Trading Services will suffer the most. A hearing on the motion has been scheduled for June 13.
“The assistance requested will primarily harm BAM customers, effectively put BAM out of business, and prevent BAM from defending itself in this lawsuit,” the document says.
Binance.US claims that “all claims by the SEC are untenable” because the regulator has not yet “identified a single securities transaction on BAM.”
The company has made "significant efforts" to cooperate on the Commission's investigation, which has been ongoing since 2020, the exchange said.
“The fact that numerous cryptocurrency exchanges, including BAM, have operated in the United States for years without intervention from the SEC disproves the claim that [cryptocurrencies] are clearly subject to securities laws,” added Binance.US.
