![]() ![]() By Kane Pepi JEven if you’re yet to buy your first ever cryptocurrency, there’s a good chance that you’ve heard of Binance. The SEC has declined BAM’s proposals to meaningfully limit its requests and is opposed to the motion for a protective order, the filing said. Cryptocurrency Reviews Binance Review: The Top Cryptocurrency Exchange If you’re thinking about joining Binance for your cryptocurrency investing needs, then be sure to read our comprehensive review first. “…the SEC has still yet to identify any evidence suggesting that customer assets were misused or dissipated in any way,” the filing said. In June, US regulators sued Binance and CEO Changpeng Zhao for allegedly operating a “web of deception,” listing 13 charges including claims that the company artificially inflated its trading volumes, diverted customer funds, failed to restrict US customers from its platform and misled investors about its market surveillance controls.īinance did monthly transactions worth $90bn in banned China market Simply Spiked Lemonade review: Simplys booze venture got it right. The confiscations highlight concerns about the effectiveness of anti-money laundering measures taken by platforms like Binance and emphasize the need for stronger policies, transparency, and collaboration between authorities and crypto exchanges to ensure user safety. The protective order seeks to limit the SEC, among other things, to four depositions from BAM employees, and to drop the deposition of BAM’s chief executive and of its chief financial officer, without naming anyone.īinance and the SEC did not immediately respond to a request for comment. Binance pauses Bitcoin withdrawals amid fee spikes. Israeli authorities seized around 190 Binance accounts linked to terrorist organizations such as Hamas and Daesh since 2021. In a court filing in the US District Court of Columbia, BAM Trading, Binance US’s operating company and BAM Management said the group had already provided sufficient information to the regulator. Crypto exchange Binance late on Monday filed for a protective court order against the US Securities and Exchange Commission saying the regulator’s requests for information were “over broad” and “unduly burdensome”.
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