The Securities and Exchange Commission (SEC) continues to press for more evidence of fraud at Binance.US, intensifying its investigation into the crypto exchange. The SEC\'s scrutiny follows a recent report highlighting the agency\'s concerns. Read the full report here.

SEC Intensifies Probe: Searching for Binance.US Fraud Evidence

Gary Gensler’s Securities and Exchange Commission (SEC) branded Binance.US “a cauldron of fraud,” and used its power and influence to choke off the firm’s operations, according to recent court filings. The SEC is actively seeking evidence to support its claims that Binance and its founder Changpeng Zhao may have a backdoor to control assets stored on Binance.US.

Binance.US Defends Itself Against SEC Allegations

During a Nov. 27 hearing in federal court, attorneys for Binance.US reportedly argued the securities regulator has no evidence that assets have been misused, asking U.S. Magistrate. The crypto exchange maintains that it has been cooperating fully with the SEC\'s investigation and denies any wrongdoing.

The SEC\'s Ongoing Investigation into Binance

Binance, one of the world’s largest crypto exchanges, faces heightened scrutiny from the US Securities and Exchange Commission (SEC). The ongoing investigation centers on whether Binance violated securities laws by offering unregistered securities and potentially mismanaging customer funds. The SEC is still looking for evidence that Binance and its founder Changpeng Zhao may have a backdoor to control assets stored on Binance.US. This adds another layer to the complex legal battle.

What\'s Next for Binance and the SEC?

The outcome of the SEC\'s investigation could have significant implications for Binance and the broader cryptocurrency industry. As the SEC continues to press for more evidence of fraud at Binance.US, the coming weeks and months will be critical in determining the future of the exchange and its operations in the United States.