{"id":54718,"date":"2023-12-13T05:04:18","date_gmt":"2023-12-13T05:04:18","guid":{"rendered":"https:\/\/prosfunds.com\/markets\/crypto\/binance-cz-claim-settlement-with-doj-and-fincen-irrelevant-to-sec-lawsuit\/"},"modified":"2023-12-13T05:04:19","modified_gmt":"2023-12-13T05:04:19","slug":"binance-cz-claim-settlement-with-doj-and-fincen-irrelevant-to-sec-lawsuit","status":"publish","type":"post","link":"https:\/\/prosfunds.com\/?p=54718","title":{"rendered":"Binance, CZ Claim Settlement With DoJ and FinCEN Irrelevant to SEC Lawsuit"},"content":{"rendered":"<div>\n<figure id=\"attachment_141578\" aria-describedby=\"caption-attachment-141578\" style=\"width: 1200px\" class=\"wp-caption alignnone\"><noscript><\/noscript><figcaption id=\"caption-attachment-141578\" class=\"wp-caption-text\">source: GeekWire\/ Taylor Soper<\/figcaption><\/figure>\n<p>Binance Holdings and its former CEO, Changpeng Zhao, have filed a response to the U.S. Securities and Exchange Commission\u2019s (SEC) recent notice of supplemental authority concerning Binance\u2019s settlement with the U.S. Department of Justice (DOJ).<\/p>\n<p>In its latest filing, Binance has claimed that the SEC\u2019s attempt to incorporate the outcomes of the $4.3 billion guilty plea and settlement agreement with the DOJ is procedurally improper and impermissible.<\/p>\n<p>The SEC\u2019s move is seen as an effort to bolster its case against Binance Holdings and Changpeng Zhao, who have been embroiled in a legal dispute since June 5, 2023.<\/p>\n<p>At that time, the SEC charged Binance with 13 violations related to securities laws, including allegations that Zhao and the company controlled customer assets on Binance US and engaged in the commingling or diversion of customer assets.<\/p>\n<h2>DoJ and FinCEN Settlement Irrelevant to SEC Lawsuit<\/h2>\n<p><span class=\"replacer\"><\/span><br \/>In response to the SEC\u2019s notice, Binance argued that the regulatory body failed to establish the relevance of the resolutions reached with the DOJ to the SEC\u2019s asserted claims, dismissing them as \u2018defective.\u2019<\/p>\n<p>The company, in court documents filed on December 12, 2023, contended that the SEC\u2019s notice was procedurally flawed, constituting an impermissible supplemental brief that introduced new factual information and arguments without merit.<\/p>\n<p>Highlighting the SEC\u2019s attempt to leverage resolutions from other agencies, Binance pointed out a lack of notice regarding any pertinent regulatory authority on the part of the SEC.<\/p>\n<p>The response emphasized that providing judicial notice is not a substitute for amending a complaint, and the SEC\u2019s efforts to benefit from resolutions outside its jurisdiction further underscored the agency\u2019s apparent lack of regulatory clarity.<\/p>\n<p>As the legal saga unfolds, it remains uncertain how the SEC will substantiate its claims against Binance, specifically regarding allegations of operating unregistered national securities exchanges, broker-dealers, and clearing agencies.<\/p>\n<p>CZ is currently waiting in the US to hear his sentencing in February where he could face a prison time of up to 18 months.<\/p>\n<div class=\"newsletter home-newsletter single\">\n<div class=\"left-side\">\n<p>\n        <em>Enter your email for our Free Daily Newsletter<\/em>\n    <\/p>\n<p> A quick 3min read about today&#8217;s crypto news!<\/p>\n<p>    <span class=\"response-msg\" id=\"newsletter-response\"><\/span><\/p>\n<div class=\"recaptcha-text\">\n        This site is protected by reCAPTCHA and the Google<br \/>\n        Privacy Policy and<br \/>\n        Terms of Service apply.\n    <\/div>\n<\/div><\/div>\n<\/p><\/div>\n<p>Read the full article <a href=\"https:\/\/cryptonews.com\/news\/binance-cz-claim-settlement-with-doj-and-fincen-irrelevant-to-sec-lawsuit.htm\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>source: GeekWire\/ Taylor Soper Binance Holdings and its former CEO, Changpeng Zhao, have filed a response to the U.S. Securities and Exchange Commission\u2019s (SEC) recent notice of supplemental authority concerning Binance\u2019s settlement with the U.S. Department of Justice (DOJ). In its latest filing, Binance has claimed that the SEC\u2019s attempt to incorporate the outcomes of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":54719,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"content-type":"","footnotes":""},"categories":[35],"tags":[],"class_list":{"0":"post-54718","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-crypto"},"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.0 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Binance, CZ Claim Settlement With DoJ and FinCEN Irrelevant to SEC Lawsuit | Prosfunds<\/title>\n<meta name=\"description\" content=\"source: GeekWire\/ Taylor Soper Binance Holdings and its former CEO, Changpeng Zhao, have filed a response to the U.S. Securities and Exchange Commission\u2019s\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, 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