Binance.US Contests SEC’s Requests, Labeling Them ‘Unreasonable’

Binance.US Contests SEC's Requests, Labeling Them 'Unreasonable'

Binance.US, the U.S. arm of the world’s largest cryptocurrency exchange, is challenging the U.S. Securities and Exchange Commission’s (SEC) requests for information, labeling them “unreasonable.”

The SEC has requested information from Binance.US regarding its operations, customer data, and other related matters. Binance.US has argued that the requests are overly broad and would require an unreasonable amount of time and resources to fulfill.

In a statement, Binance.US said it “respects the SEC’s mission to protect investors and promote market integrity,” but that it “will not be able to comply with the SEC’s requests in their current form.” The statement continued, “We believe the SEC’s requests are overly broad and would require an unreasonable amount of time and resources to fulfill.”

Binance.US has requested that the SEC narrow its requests to “relevant and specific information” that is “reasonably necessary” for the agency to conduct its investigation. The company has also asked the SEC to provide more details about the scope of its investigation and the specific information it is seeking.

The SEC has not yet responded to Binance.US’s request for clarification. However, the agency has previously stated that it is looking into whether Binance.US is in compliance with U.S. securities laws and regulations.

The dispute between Binance.US and the SEC is the latest in a series of clashes between the agency and cryptocurrency companies. The SEC has taken a hard stance against cryptocurrency companies that it believes are operating outside of U.S. law, and it has taken enforcement action against several firms in recent months.

It remains to be seen how the dispute between Binance.US and the SEC will be resolved, but it is clear that the agency is taking a hard line when it comes to cryptocurrency companies operating in the U.S. Investors should be aware of the risks associated with investing in cryptocurrency and should always do their own research before investing in any asset.