- The court yesterday heard a complaint from Binance US lawyers
- They will not force the SEC to remove the defamation from the press release
- The court said it would have no effect on the case
A US federal judge dismissed Binance US’s complaint. It is a demand to order the SEC to change the ambiguous wording of the press release. It talked about the alleged commingling of client funds and the use of offshore. Lawyers insisted the agency used unproven allegations.
“It seems the press release was designed to cause unwarranted confusion in the marketplace.”
The suit was heard by D.C. District Judge Amy Berman. She decided that the court need not interfere with the text of the press release. Moreover, according to Themis, the SEC’s message language will have no effect on this proceeding:
“Although all lawyers must adhere to ethical standards, it is not clear that the Court’s intervention to repeat this point is necessary at this time or that the Court needs or is appropriate to interfere with the selection of words for press releases by parties. It is also unclear whether the agency’s public relations efforts to date will have a significant impact on the proceedings in this case.”
After such news, the BNB token (a native Binance token) fell 1.3%. But it later recovered to $237.77 (+ 0.64%).
Remind that yesterday Binance withdrew its application for a license in Austria. The company was unable to reach an agreement with the regulator to operate in the country.
The company was unable to reach an agreement with the regulator to operate in the country.