Binance has provided an update on the ongoing legal battle between Binance.US and the Securities and Exchange Commission (SEC). In a recent Twitter post, Binance announced that the court has denied the SEC's request for a temporary restraining order (TRO) and freeze of assets on Binance.US, a move which the company views as unjustified based on the facts and legal context.
As a result, Binance.US reached a court-ordered agreement with the SEC allowing the platform to continue its ordinary course of business. During a court session earlier this week, the SEC's lawyers conceded that they had no evidence suggesting the misuse of customer assets, despite their claims. Binance.US believes that the SEC's request sought to shutter the business in line with the agency's alleged attempts to kill the crypto industry.
While acknowledging the damage done to the company's business and reputation, Binance.US remains determined to defend itself against unwarranted charges and "regulation by enforcement" tactics that it deems inappropriate within the justice system. The company looks forward to continuing its defense in court.
