The U.S. Securities and Exchange Commission (SEC) is currently conducting an investigation into potential fraud at Binance.US, a major cryptocurrency exchange. This comes after a similar case involving FTX, another popular cryptocurrency trading platform. The SEC's scrutiny of Binance.US suggests the regulatory agency's increased focus on the cryptocurrency industry and its efforts to protect investors from fraudulent activities.
Attorney Matthew Laroche, who represents Binance.US, has filed a motion with a federal judge seeking to halt the SEC's potential fraud investigation. Laroche argues that the investigation lacks merit and that the SEC is overstepping its jurisdiction. This move by Binance.US's attorney indicates the exchange's determination to challenge the SEC's actions and defend its reputation.
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