The world top and trusted crypto currency exchange platform, Binance, announced that their accounts have not been frozen and they are leading in court against SEC’s allegations.
Some days ago or barely weeks, the United States Security Exchange Commission chair, Gary Gensler accused the platform, Binance of money laundering and commingling users fund to theirs.
The SEC had demanded the court to freeze the Binance Exchange account to prevent them from transferring fund to another account and also to protect users fund from theft.
This allegations had brought Binance and the crypto market to a heavy wave which has caused a drop down in the currency and market .
On Twitter, the Binance was pleased to announce that the court “did not grant the SEC request to TRO and freeze of assets on our platform,” adding that they have come with a order agreement from the Court with SEC to continue their normal business.
According to Binance, the SEC have consistently persisted to ‘kill” the “crypto industry” and their reputation by any means even with ‘allegations that is not support by facts” which would have damaged their business.
“We want to provide an update on the current battle http://Binance.US finds itself in with the SEC. We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and the law. Instead, we were able to reach a Court-ordered agreement with the SEC that allows us to continue our ordinary course business. There has never been any evidence presented by the SEC concerning mis-use of customer assets. In fact, the SEC lawyers conceded in Court earlier this week, when asked by the Judge, that they had no evidence suggesting that any such thing had occurred. The SEC’s request would have effectively shuttered our business, which is consistent with the agency’s continued attempts to kill the crypto industry by any means, even by making allegations that are not supported by the facts. This fight has damaged our business and our reputation but not our fighting spirit or our resolve to defend ourselves against unwarranted charges and “regulation by enforcement” tactics that do not belong in our system of justice. We look forward to continuing to defend ourselves in court,” Binance tweeted.