Binance Arguments to Dismiss Lawsuit Lack Merit, SEC Argues In New Filing
The United States Securities and Exchange Commission (SEC) has opposed Binance’s arguments to dismiss the lawsuit adding that the motion has no real basis under law.
In a Nov 8 court filing, the securities regulator claims the defendants applied the law incorrectly in an attempt to evade charges and no court in the United States has been bound by the incorrect legal argument terming it a “tortured interpretation of the law.”
The Commission filed charges against Binance in June for allegedly breaching federal securities law by offering trading services to unregistered securities, and asset commingling amongst others.
Similar charges were also filed against Coinbase one day after with both exchanges promising to defend their actions vigorously and seek proper crypto regulations from courts leading to Binance filing a motion to dismiss the suit.
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