Binance CEO Changpeng” CZ” Zhao have filed a solicitation requesting that the action made against him and his cryptocurrency exchange by the United States Securities and Exchange Commission( SEC) be dismissed.
According to aSept. 21 form to the United States District Court, both Binance effects and Zhao claimed that the fiscal nonsupervisory had surpassed its authority in the action against them.
“ In trying to claim nonsupervisory power over the crypto assiduity, the SEC distorts the textbook of the securities laws, ” attorneys for Binance wrote in the 60- runner solicitation.
In addition to Binance and Zhao’s solicitation, the American outfit of the crypto exchange,Binance.US also moved to have the charges made against it dismissed in a seperate 56- runner form made on the same day.
This is a developing story, and farther information will be added as it becomes available.
