Binance and CZ accuse SEC of making misleading statements about exchange assets.

Lawyers representing Binance.US, Binance Holdings Limited, and Binance CEO Changpeng “CZ” Zhao have filed a motion alleging that the U.S. Securities and Exchange Commission (SEC) has misled the public with statements made during an ongoing securities lawsuit. The legal teams claim that the SEC made “misleading” statements in a June 17 press release and filed a motion for the regulator to comply with “applicable rules of conduct.” The filing referred to SEC Enforcement Director Gurbir Grewal’s claim that CZ and Binance could “commingle customer assets or divert customer assets as they please.” The motion seeks to prevent the SEC from issuing certain public statements on the Binance lawsuit that “may materially impact court proceedings.” The SEC is currently pursuing an ongoing lawsuit against Binance, Binance.US, and CZ alleging unregistered securities offerings and Binance’s failure to register as an exchange or a broker-dealer clearing agency.