- SEC Chair Gensler allegedly offered advisory role to Binance in 2019, claim Binance lawyers.
- Gensler, teaching at MIT then, allegedly met Binance founder, Zhao in Japan.
- Despite SEC crackdown, Binance lawyers claim Gensler had close ties with Zhao.
In a remarkable twist in the tale of crypto regulation, Binance’s lawyers have claimed that SEC Chair Gary Gensler offered his advisory services to the crypto giant’s parent company in 2019.
This revelation comes amidst the SEC’s ongoing intense scrutiny of cryptocurrency companies, including Binance. At the time of Gensler’s alleged proposal, he was an academic at the Massachusetts Institute of Technology’s Sloan School of Management, CNBC Reports.
The legal claim suggests Gensler held several discussions with Binance executives and the company’s founder, Changpeng Zhao. It’s even asserted that Gensler and Zhao met for lunch in Japan. Following this rendezvous, Zhao allegedly engaged in an interview with Gensler as part of his cryptocurrency course at MIT, at Gensler’s request.
These allegations shine a fresh light on the relationship between the SEC and Binance, particularly considering the recent legal actions against the company. The SEC has charged Binance and Zhao with 13 offenses, including failure to register as a broker-dealer and the lack of adequate internal controls.
Despite the ongoing regulatory pressure from the SEC, Binance’s future in the cryptocurrency world remains promising. These latest revelations attest to the fact that, even amid regulatory turbulence, Binance continues to push boundaries in transparency and governance.
It is through such resilience and unwavering commitment to industry excellence that Binance will undoubtedly uphold its position as a leading force in the crypto space.
Read also:
disclaimer read moreCrypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
