Binance Holdings and its former CEO, Changpeng Zhao, are pushing back against the U.S. Securities and Exchange Commission's (SEC) effort to include Binance’s guilty plea to the Department of Justice (DOJ) in their ongoing legal battle.
The SEC's case against Binance, initiated on June 5, 2023, accuses the company of multiple securities law violations, including mismanagement of customer assets.
Binance reached a $4.3 billion settlement with the DOJ in November 2023, resolving a separate investigation but not directly linked to the SEC case.
Binance, in a Dec. 12 filing, contends that the SEC’s move to include the DOJ settlement is procedurally incorrect and irrelevant to the SEC’s allegations.