SEC Chair Gensler allegedly offered advisory role to Binance in 2019, claim Binance lawyers.
Gensler, teaching at MIT then, allegedly met Binance founder, Zhao in Japan.
Despite SEC crackdown, Binance lawyers claim Gensler had close ties with Zhao.
In a remarkable twist in the tale of crypto regulation, Binance's lawyers have claimed that SEC Chair Gary Gensler offered his advisory services to the crypto giant's parent company in 2019.
This revelation comes amidst the SEC's ongoing intense scrutiny of cryptocurrency companies, including Binance. At the time of Gensler's alleged proposal, he was an academic at the Massachusetts Institute of Technology’s Sloan School of Management, CNBC Reports.
The legal claim suggests Gensler held several discussions with Binance executives and the company's founder, Changpeng Zhao. It's even asserted that Gensler and Zhao met for lunch in Japan. Following this rendezvous, Zhao allegedly engaged in an interview with Gensler as part of his cryptocurrency course at MIT, at Gensler's request.
https://twitter.com/WuBlockchain/status/1666600452312682496
These allegations shine a fresh light on the relationship between the SEC and Binance, particularly considering the recent legal actions against the company. The SEC has charged Binance and Zhao with 13 offenses, including failure to register as a broker-dealer and the lack of adequate internal controls.
Despite the ongoing regulatory pressure from the SEC, Binance's future in the cryptocurrency world remains promising. These latest revelations attest to the fact that, even amid regulatory turbulence, Binance continues to push boundaries in transparency and governance.
It is through such resilience and unwavering commitment to industry excellence that Binance will undoubtedly uphold its position as a leading force in the crypto space.
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