Sued by the SEC, Binance US has added several lawyers to its legal team, including George Canellosa former co-director of the law enforcement division from regulatory body American.
The American branch of Binance is preparing its defense. Monday, Bloomberg reported that Binance US had hired 4 lawyers of New York law firm Milbank.
Among them is George Canellos. The former co-director of the law enforcement division of the Security of Exchange Commission supervised more than 1,000 SEC attorneys on investigations from 2009 to 2013. In addition, he worked for 9 years as an Assistant U.S. Attorney in the U.S. District Court for the Southern District of New York.
Canellos has a rare and remarkably special combination of skills – having been both an SEC attorney and a DOJ attorney,” said John Reed Stark, another ex-SEC official.
Last week, the US securities regulator sued Binance US and also Binance and its founder CZ for, among other things, violating the Securities Act.
While the SEC is now seeking to freeze the assets of Binance USthe company recently urged a judge to reject the regulator’s request, arguing that the decision would cripple its business and harm customers. On Friday, the platform suspended fiat deposits and invited its users to withdraw their dollars.
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