24/7 Cryptocurrency News

Binance Takes Legal Stand, Eyes SEC’s Fraud Suit Dismissal

Binance, the world's leading crypto exchange, revealed plans to move to a Washington courtroom, seeking dismissal of SEC's fraud suit.
Published by
Binance Takes Legal Stand, Eyes SEC’s Fraud Suit Dismissal

Binance, the world’s leading crypto exchange, recently took the world of digital assets by storm as its legal eagles revealed plans to seek dismissal of a fraud suit filed by the SEC. The crypto exchange is reportedly heading to a Washington courtroom on Friday, eyeing the lawsuit dismissal, marking a monumental move against the U.S. SEC, a financial regulatory body.

This legal chronicle appears to have stirred a whirlpool of speculations among crypto market enthusiasts globally, as traders and investors appear to be building inferences orbiting Binance’s functionality. Meanwhile, the suit filed against Binance zeroes in on the firm, its current CEO, and founder Changpeng Zhao.

Advertisement

A Closer Look Into The Lawsuit

The world’s leading cryptocurrency exchange was first accused of fraudulent activities in June previous year, leading to the lawsuit. The SEC tossed the lawsuit against Binance, mirroring the fraud, alleging that the exchange artificially manipulated and inflated trading volumes on its platform, diverted customer funds and misled investors about its market surveillance controls. Moreover, the SEC also accused the exchange of facilitating the trade of numerous crypto tokens that the regulatory body deemed securities, all leading to the fraud suit.

Whereas, BAM Trading, the operator of Binance.US, stated in court filings that the SEC’s case did not orbit around Binance committing fraud, opposing the SEC’s stance. Following this, the crypto exchange itself noted that the SEC had no authority to supervise crypto assets, aligning with Coinbase’s argument ruled out in a similar hearing on Wednesday.

Coinbase eyed the dismissal of a lawsuit orbiting its functioning as an unregistered securities exchange, aligning somewhat parallel to Binance’s legal chronicle.

Also Read: BlackRock Expects No Fed Rate Cuts Until June, Bitcoin Post-Halving Rally Could Delay

Advertisement

Binance’s Legal Saga

Binance appears to be catapulting toward legal tussles in recent times, as seen by the lawsuit against its founder, Changpeng Zhao, last year. The lawsuit against Zhao resulted in a $4.3 billion settlement with the U.S. Department of Justice and Commodity Futures Trading Commission, nabbing significant attention globally. Meanwhile, the fraud suit emerged as of June of the previous year, adding to Binance’s legal saga.

With the constant burgeoning of legal heat orbiting Binance, crypto market traders and investors extensively eye the firm’s legal hearings, hoping to see less scrutiny for the crypto exchange.

Also Read: Binance Lists ETC, ENS, TIA In FDUSD & USDC Spot Trading Pairs

Share
Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Bitcoin News

Peter Schiff Criticizes Bitcoin’s Performance Following Gold’s Rally To New ATH

Popular gold advocate Peter Schiff has criticized Bitcoin’s weakness against gold, calling it near bear…

September 7, 2025
  • Bitcoin News

Arkham Uncovers $5 Billion in Untouched Bitcoin From Germany’s Movie2K Seizure

Arkham Intelligence has identified 45,000 Bitcoin (BTC), valued at nearly $5 billion, that remains untouched…

September 7, 2025
  • 24/7 Cryptocurrency News

Ethereum Spot ETFs Record $447 Million in Outflows Amid Crypto Market Decline

Ethereum ETFs faced a sharp investor pullback this week, shedding nearly half a billion dollars…

September 6, 2025
  • 24/7 Cryptocurrency News

World Liberty Financial Discloses Reason for Blacklisting 272 Wallets

World Liberty Financial (WLFI) has confirmed that it blacklisted 272 wallets and explained why it…

September 6, 2025
  • 24/7 Cryptocurrency News

September 50 BPS Fed Rate Cut Odds Climb Ahead of CPI, PPI Data

Traders are beginning to price in the possibility of a 50 basis points (bps) Fed…

September 6, 2025
  • 24/7 Cryptocurrency News

Michael Saylor Spotlights Strategy’s Performance Following S&P 500 Snub

Michael Saylor highlighted Strategy’s outperformance after the company was excluded from the S&P 500. The…

September 6, 2025