SEC investigates Binance US from 2020 | CoinDesk JAPAN | Coin Desk Japan

The U.S. Securities and Exchange Commission (SEC) has been investigating Binance.US since at least 2020, according to court filings released on June 7.

In the filing, the SEC cites hundreds of millions of dollars in benefits from Binance US.

The SEC filed a lawsuit against Binance US, Binance Global, and CEO Changpong Zhao. He also called for an asset freeze on Binance US.

The SEC opened its investigation on August 17, 2020, according to SEC filings.

“The investigation concerned, among other things, possible violations of federal securities laws by BAM Trading Services Inc,” the filing refers to the company that operates Binance US.

The SEC said BAM Trading generated $411 million in revenue over the four-year period and $225 million in gross profit for the period. Since the company is not publicly traded, it is usually difficult to know its financial situation.

In a statement tweeted on May 5, Binance US said it had been negotiating in good faith with the SEC for nearly two and a half years, adding that the lawsuit was “baseless … in light of facts, law, or SEC precedent.” is also unfair,” he continued.

｜Translation: coindesk JAPAN
｜Editing: Takayuki Masuda
| Image: US Securities and Exchange Commission headquarters in Washington DC (Shutterstock)
｜Original: SEC’s Binance.US Probe Started in 2020, Court Filings Show