Binance customers challenge SEC and Binance attorneys, seek customer representation in lawsuit.
in the filing with the District Court for the District of Columbia, Eeon claims that the SEC and Binance's attorneys have failed to sufficiently represent the interests of Binance's customers, leading Eeon to seek representation for them."We are the appropriate parties involved in this case, as the Court identified us as 'Customers' in its Order dated June 17, 2023.
Eeon contends that crypto coins should be deemed commodities, not securities, as they are predominantly utilized for personal and household use rather than commercial purposes. Additionally, Eeon highlights the absence of specific regulations for this emerging commodity category, which consequently limits the SEC's jurisdiction over cryptocurrencies.
Eeon claims Binance controls customers' crypto assets by blocking access and withdrawals without proper notice. They argue that the SEC's actions worsened the situation for investors instead of safeguarding their interests, accusing the SEC of wrongly accusing customers of money laundering. Eeon requests a court order to grant customers access to their frozen assets on Binance platforms.
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