Influential US Crypto Industry Leaders Say SEC Overstepped with Binance Allegations
- Circle and Paradigm have submitted filings in SEC v. Binance
- Both companies argue the SEC overstepped its authority
The Binance website.
Photographer: Gabby Jones/BloombergThis article is for subscribers only.
Days before the trial of Sam Bankman-Fried is due to begin in New York, the digital-asset industry is closing ranks against the US government in the case of another influential crypto company: Binance.
Stablecoin issuer Circle Internet Financial Ltd. and crypto investment fund Paradigm Operations submitted filings this week arguing that the Securities and Exchange Commission had overstepped its authority when it filed charges against the world’s biggest crypto exchange in June.