Crypto Industry Shows Unwavering Support For Binance Against US SEC, Poll Reveals

Binance CEO Changpeng “CZ” Zhao introduces a Twitter poll on “Who can protect you more? Binance or the SEC”. Crypto exchange Binance and “CZ” have received unwavering support from the crypto industry. The poll has received nearly 127k votes, with over 85% voting for Binance and just 14% said the US Securities and Exchange Commission (SEC).

Binance CEO “CZ” Polls On “Who is better at protecting users, Binance or the SEC?”

Binance CEO launched a poll on Twitter, asking the crypto community who is better at protecting investors. Nearly 200k people have participated in the poll. The current support rate for Binance is over 85%, and the support rate for SEC is only 14.

The unwavering support from the crypto community shows trust in Binance from its users, while the US SEC continues to face criticism for their regulation by enforcement approach.

The US Securities and Exchange Commission (SEC) filed 13 charges against Binance and CEO “CZ” in the District of Columbia for violating securities laws.

The SEC is already fighting against Ripple and Coinbase, with experts suggesting Ripple lawsuit outcome probability coming in August this year after a long legal battle. Coinbase has also filed complaints against US SEC for seeking clarity on crypto regulations and guidelines after SEC sent wells notice to Coinbase in March.

Binance CEO and Cardano founder Charles Hoskinson agree it’s the perfect opportunity for the crypto industry to unite for clarity on rules and guidelines.

Also Read: Whales Buying The Dip Amid Binance Crackdown By SEC; Analyst Predicts Bitcoin ATH in 2023

Binance Hires Former SEC Enforcement Officials

Crypto exchange Binance has hired former US SEC Enforcement Division officials to challenge the US SEC trial team. Former SEC officials include Richard Grime, William R. Baker, and Bill McLucas.

The US Dept. of Justice (DOJ) could also bring charges against Binance and joins US SEC and US CFTC in their investigations and lawsuit against the exchange.

Also Read: Who Will Win, US SEC Or Crypto Giant Binance?