Binance stated that despite their attempts for good faith negotiations to reach a settlement with the SEC about their investigations into the crypto exchange, the Commission decided to litigate unilaterally.
The exchange argued that the Commission was taking a blunt, rather than thoughtful approach. In addition, Binance pushed back against the SEC’s statement that their practices put customer funds at risk; affirming that all user assets on their platforms are safe.
Finally, Binance noted that due to them not being based in the U.S., “the SEC’s actions are limited in reach.”
