American Binance was able to challenge the requirements of the department to freeze funds

The American branch of the largest crypto exchange Binance urgently challenged the SEC's request to freeze the platform's funds. They called it too burdensome.

What does Binance say about the lawsuit and the petition

The platform reported that such a decision would lead to disastrous consequences for the American branch. She won't actually be able to work. At the same time, the BAM Trading Services subsidiary site will receive the greatest damage. The hearing on the petition will be held today.

The document states that such assistance, which is required by the SEC, will cause huge damage to BAM users. The platform will withdraw from the industry and will not allow it to defend itself in this trial.

Also representatives of Binance.US reported that the claims of the department are not sound. They explain this by the fact that the Commission could not find at least one securities transaction on the site.

At the same time, they added that many crypto exchanges, like BAM, worked in the United States and the regulator did not interfere. This becomes a refutation of the opinion that cryptocurrencies can be regarded as securities.

Recall that on June 5, the agency filed a lawsuit against the exchange and its founder. In response, the platform stated that it would fight resolutely.

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