Crypto Industry’s Steadfast Support for Binance Against US SEC, Poll Reveals

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Binance CEO Changpeng “CZ” Zhao presents Twitter poll on “Who can protect you more? Binance or the SEC”. Crypto exchange Binance and “CZ” have received unwavering industry support from The poll received nearly 127,000 votes, of which more than 85% voted for Binance and only 14% said the United States Securities and Exchange Commission (SEC).

Binance CEO “CZ” Asks “Who is Better at Protecting Users, Binance or the SEC?”

Binance’s CEO launched a poll on Twitter, asking the crypto community who best protects investors. Nearly 200,000 people participated in the survey. The current support rate for Binance is above 85% and the support rate for SEC is only 14.

Who protects you the most?

— CZ 🔶 Binance (@cz_binance) June 6, 2023

The unwavering support of the crypto community shows its users’ trust in Binance, while the US SEC continues to face criticism for its enforcement approach to regulation.

The United States Securities and Exchange Commission (SEC) has filed 13 charges against Binance and CEO “CZ” in the District of Columbia for violating securities laws.

The SEC is already battling Ripple and Coinbase, with experts suggesting the likelihood of a Ripple lawsuit outcome will arrive in August this year after a lengthy legal battle. Coinbase also filed complaints against the US SEC for seeking clarification on crypto regulations and guidelines after the SEC issued a sink notice to Coinbase in March.

Binance CEO and Cardano founder Charles Hoskinson agrees this is the perfect opportunity for the crypto industry to come together to clarify rules and guidelines.

Also Read: Whales Buy Lower Amid Binance SEC Crackdown; Analyst predicts Bitcoin ATH in 2023

Binance Hires Former SEC Law Enforcement Officers

Crypto exchange Binance has hired former officials from the US SEC’s enforcement division to challenge the US SEC’s testing team. Former SEC officials include Richard Grime, William R. Baker and Bill McLucas.

The US Department of Justice (DOJ) may also bring charges against Binance and joins the US SEC and CFTC in their investigations and prosecutions against the exchange.

Also read: Who will win, US SEC or Crypto Giant Binance?

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Varinder has 10 years of experience in the Fintech sector, including more than 5 years dedicated to blockchain, crypto and Web3 developments. A tech enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000 news, articles and articles. With CoinGape Media, Varinder believes in the enormous potential of these innovative technologies of the future. It currently covers all the latest updates and developments in the crypto industry.

The content presented may include the personal opinion of the author and is subject to market conditions. Do your market research before investing in cryptocurrencies. The author or publication assumes no responsibility for your personal financial loss.

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