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Binance US Asks To Dismiss SEC Money Laundering Trading Charges, Saying It Lacks Factual Basis

September 22nd, Binance US and its affiliated organizations have requested that a Washington, D.C. court dismiss the lawsuit filed by the U.S. Securities and Exchange Commission (SEC), stating that the allegations of money laundering transactions "have no factual basis".

In June, the SEC accused Binance.US, which is associated with Binance Holdings Limited and BAM, of allowing money laundering transactions to be conducted by Sigma Chain, a trading company owned by Binance CEO CZ. Binance's lawyers argued in their motion to dismiss on Thursday that the SEC's allegations lacked specific facts.

In addition, the lawyers also questioned the SEC's characterization of some tokens provided on the platform as securities, including BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI, and stated that the SEC does not have the right to consider digital assets as securities.

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