Binance.US may have faced a misdirected legal outrage by the Commission, but it cannot be assumed that the entire industry is here to mint money for its users. Several ventures are out there only to take away money from their users. While it is turning out to be obvious that the SEC had no case in the first point, it remains to be seen if the crypto industry at a macro level is really worth functioning. Binance.US has said that it would have been in line with their consistent efforts to kill the crypto industry in the country.
Binance us news update#
The only thing that could have made it bad for Binance.US was the Court actually concluding the case by honoring the requests of the SEC.Īs per the update shared by Binance.US, requests proposed by the SEC would have effectively shuttered their business. It has been able to sustain a decent growth trajectory, but it could have been better if the SEC and the platform were not in a legal battle.
Needless to say, the entire legal battle with the SEC has put a dent in the image of Binance.US. After their legal representative failed to demonstrate a single piece of evidence, the Court found it better to deny their requests and allow Binance.US to continue with their daily operations as they were.
Or the venture was not using the funds for the said purposes. What brought the SEC to this point was their argument, wherein they could not present a piece of evidence to support the allegations.Īllegations put on the table by the SEC were that Binance.US was misusing the funds.
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