Binance.US Prepares A Legal Team In Defense of SEC Lawsuit
Binance.US faces charges of operating as an illegal securities exchange. Canellos is currently the global head of the litigation and arbitration group at Milbank. He has previously supervised over 1,300 attorneys at the SEC on several investigations. Commenting on hiring George Canellos, John Reed Stark, former head of SEC’s Office of Internet Enforcement said: “Canellos possesses a rare and remarkably special combination of skill sets — having served as both an SEC prosecutor and a DOJ prosecutor. Think Liam Neeson meets Perry Mason”. As said, three other attorneys will also be joining the defense team for Binance.US . On June 5, the SEC filed a lawsuit against Binance.US , the global Binance exchange, and its owner Changpeng Zhao. The lawsuit accuses them of breaking securities laws in the US by mishandling customer funds and misleading investors and regulators. To protect customer funds, the SEC asked the court to freeze Binance.US ’s assets temporarily. Binance has de...