- Binance and Zhao question the SEC’s notice, claiming it lacks relevance.
- Defendants criticize the SEC’s use of Zhao’s plea agreement, asserting it is “deeply misguided.”
- The SEC selectively omits crucial information, according to the filing.
Binance and former CEO Changpeng Zhao filed a response to the U.S. Securities and Exchange Commission’s (SEC) recent notice of supplemental authority filed on December 8, describing it as an “impermissible supplemental brief that identifies no new authority.”
The filing response claimed that the SEC’s notice was improper and impermissible, citing that the SEC failed to demonstrate the relevance of the resolutions with the Department of Justice to the SEC’s claims against Binance and Zhao.
In the SEC’s notice, reference was made to the recent plea agreement between Zhao and U.S. officials after Zhao pleaded guilty to breaching anti-money laundering rules, suggesting that these developments provided additional grounds for the court to reject the joint motion.
The SEC accused Binance and Zhao of knowingly taking steps to circumvent U.S. law. The defendants countered this argument, saying that the SEC’s a…
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