Binance asks US judge to dismiss lawsuit by regulator

ISTANBUL

The world's biggest cryptocurrency exchange platform asked a US judge to dismiss a lawsuit by the Securities and Exchange Commission (SEC).

Lawyers for Binance argued that the SEC has been asking crypto firms to register their assets while at the same time, preventing them from doing so, according to reports on Monday.

The SEC, on the other hand, claimed that Binance violated US market rules and regulations.

Judge Amy Berman Jackson from the US District Court for the District of Columbia said she would take the arguments under advisement and would take a joint motion from Binance and its American subsidiary Binance.US.

The SEC in June filed 13 charges against Binance entities and its then-CEO Changpeng Zhao.

Zhao agreed to pay a $50 million fine and step down from his role at the company as part of a $4.3 billion settlement in November.