Following reports of increased outflows after news of the lawsuit broke, Binance CEO CZ argued that there was potential for on-chain data to be misinterpreted.
The exchange saw a 43% jump in its number of new users from the Latin America region in just three days.
While Hong Kong welcomes cryptocurrency, digital asset trading remains banned in mainland China.
Mark Cuban said that there’s no clarity or framework for crypto firms to register with the SEC in the US. He also called out the SEC for their differential treatment of the stock loans and the crypto loans.
Binance operates an independent entity dubbed Binance Nigeria Limited similar to the United States entity that was also deemed illegal earlier last week.
The SEC lawsuits last week led to a heavy correction in the altcoins space as the SEC names several altcoins as securities. This, in turn, has helped the Bitcoin dominance to grow.
Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US.
At the time Gensler was offered to be an advisor to Binance, he was teaching at Massachusetts Institute of Technology’s Sloan School of Management.
The filing by the SEC cites Binance’s operations in Malta with CZ noting that he won’t have to appear in person.
Binance is also pausing its OTC Trading Portal services in the US. The exchange said that it will notify users if and when the portal opens in the coming weeks and months.
Judge Fitzgerald reject arguments from Kim Kardashian and Paul Pierce’s lawyers to dismiss the EMAX class-action lawsuit.
Crypto market prices have tumbled significantly since the news began to make rounds.
While Binance saw the acquisition of Gopax as a means of re-entering South Korea, it was also meant to be a turning point for the local trading platform.
The new governance requires at least 75,000 votes for the proposal to be either accepted or rejected.
Bitcoin’s strong bounce back despite the SEC lawsuits has made analysts optimist about the beginning of the next bull run.