Binance and CEO Chanpgeng Zhao asks court to dismiss SEC suit

Binance CEO Changpeng “CZ” Zhao have filed a petition requesting that the lawsuit made towards him and his cryptocurrency alternate by america Securities and Alternate Fee (SEC) be dismissed. 

Based on a Sept. 21 submitting to america District Courtroom, each Binance Holdings and Zhao claimed that the monetary regulatory had overstepped its authority within the lawsuit towards them. 

“In making an attempt to say regulatory energy over the crypto business, the SEC distorts the textual content of the securities legal guidelines,” attorneys for Binance wrote within the 60-page petition.

Along with Binance and Zhao’s petition, the American outfit of the crypto alternate, Binance.US additionally moved to have the fees made towards it dismissed in a seperate 56-page submitting made on the identical day.  

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