Binance and CZ Make Fresh Attempt to Dismiss SEC's Amended Lawsuit

Nov 5, 2024, 10:34 AM

Lawyers for Binance and former CEO Changpeng 'CZ' Zhao have made a fresh attempt to dismiss the U.S. Securities and Exchange Commission's (SEC) amended lawsuit against them. The legal team argues that the SEC lacks clear regulatory standards for crypto assets and criticizes the agency for its vague stance on crypto regulations. They claim the SEC's decision on which crypto transactions to target is arbitrary and that the agency is misinterpreting court rulings. The new motion to dismiss highlights the ongoing tension between Binance and the SEC over the regulatory framework governing cryptocurrency transactions.