Bitcoin Forum

With the current issue in the crypto world between Cz (Changpeng Zhao) Ceo of binance and the Sec, I support Cz with reasons that binance has done alot to earn it's communities trust,helping millions of users in the crypto ecosystem,and has more durable marketing strategy whereas the Sec is government driven and wants to control everybody.
It's unfair that the sec is suppressing a private cooperation that's helping to grow & build the crypto world, binance is helping everybody including crypto whales and newbies and a fight against binance is against the world.
What's your say on this?

I'm not supporting anyone on this issue; both the SEC and Binance CEO are not completely clean; they all have what's going on for them under the ground. In as much as the SEC is claiming to be protecting their investors interests by deciding for them on what's safe and what's not safe, I always see a personal interest and attack over their past and present cases with crypto exchanges.

Binance and Coinbase, on the other hand, have helped the crypto community by promoting and making things a little bit easier for people who need it closer to them and easier to assess, but they are here to do business, and their sole aim is to make profit, and for them to make this profit, they all have their fvcking hands dirty in doing the wrong thing, which we might never have any idea of, so what's what? They know how to handle themselves, the SEC says what they are selling to their citizens is not safe, then it's left for Binance to either agree or they let the citizens who they are protecting decide. Then, on the part of being unregistered, if it's actually true that they are operating some service unregistered under the US then the SEC has the right to sue them.

Whoever wins the case, it does not really matter much to Bitcoin and other crypto. I'm general BNB, and any coin associated with Binance might be affected... But bitcoin transactions will still continue.

The government wants to control everybody, but the government are using the exchanges to do the control, unlike using noncustodial wallet which gives you the control.

Are those altcoins not securities? They are securities. United States SEC have rules for securities. Binance should also follow the regulatory rules for not to fall into problem with regulators.

None.
CZ, Binance and other exchanges should clean themselves from the accusations that has been done through lawsuits and cases that's filed on them. If there will be no cases like that then that means that SEC wouldn't have time for them to file for anything because they have seen nothing. Now, it makes sense that even if they're clean, these things won't be stopped and they'll keep on finding fault against these exchanges and that's how they retaliate and that's to clean the mess that's being pushed and seen on them. That's one way or another, they just follow the regulations and if they think that SEC is doing falsely cases on them then they should throw it back on them, simple as that.

that is true, if they want to keep the business, then, comply with the regulations set to this type of business. also, they won't face any problem with them if they truly run it by the books. it will also keep their customers safe and secure. as long as they comply with the regulations, they are also securing their clients. there's no smoke without fire. so if the SEC is finding some holes, it means, there's really some aspects that they are not taking care of. i hope binance or CZ will take care of their business as many crypto users are relying on them.

I honestly don't trust anyone and don't side with anyone in this matter. But because I have an interest in crypto and well I'm always quite annoyed when someone always complicates everything about crypto.

But for this one case I would prefer to be neutral and watch what will happen next. and let's see how it ends.

Previously was about XRP vs SEC and Now CZ vs SEC. now Sec is suing Binance US and Coinbase. But there is a difference here. because Binance US was sued along with its owner, namely CZ. but Coinbase was sued without a lawsuit against the owner. (that's what i heard. correct me if i got wrong information. and tell me the truth.)

And as CZ Binance.com said stay safe. because the one sued was only Binance US. So I thought it wouldn't be too big a problem.
https://www.talkimg.com/images/2023/06/08/wxHb2.jpeg
Sourch: https://twitter.com/cz_binance/status/1666202238933426178?s=20

The SEC certainly wants to protect people and uncover anomalies and all kinds of potential violations they suspect. And CZ here had to prove his innocence in this matter.

But there's something interesting here because CZ retweeted something that made me think back. is what CZ retweeted true? if that's true then it's a pretty painful sting from CZ to SEC.
https://www.talkimg.com/images/2023/06/08/wxAyz.jpeg
Sourch: https://twitter.com/twobitidiot/status/1666243210849427456?s=20

I think it's going to be a long legal process back in the way that happened in the SEC vs Ripple case.

Do you think Binance doesn't want to control everybody? why did they force their customers to complete KYC verification when they were not?

Even though centralized exchange make people easier to buy Bitcoin and convert to fiat, but if people only know to buy Bitcoin must use a centralized exchange, doesn't know about private key or seed phrase as they only know email and password etc, it will confuse many newbies since they think there's no such be your own bank in Bitcoin.

It is not a game to choose who you encourage, just as you are not a judge to decide who will win in the end, so your encouragement to one of the parties will harm you because you put a lot of feelings in something that you cannot control.

SEC investigations began in earnest more than a year ago, and you will find in media reports that they almost made a lot of notes on most of the platforms they reviewed, where they found, in one way or another, that they did not comply with regulatory standards.

https://www.sec.gov/news/press-release/

Therefore, if you are upset, they will not stop soon, and crypto exchanges have the choice to either comply or refrain from providing services to US citizens.

The SEC released a statement that they did an analysis of Silvergate and Signature Bank that many of the funds of BinanceUS customer asset were infact sent to a company called Merit Point which was owned by CZ and these funds were traded with as FTX did.

Only thing I don’t understand is that it went to Paxos which was the BUSD stablecoin. If someone used BinanceUS did it automatically convert USD and USDT to BUSD? If so it might make sense why these customer funds were sent to Paxos.

I'm never been a fan of centralized exchanges or government overbearing solutions, but very little is known about the case to draw a conclusion.
Bitcoiners don't have to pick a side.

i wouldnt expect someone from BTC forum will support SEC,  you see even robinhood steps in already to be on th side of coinbase and binance because they know Gensler is a mad man.

after this madness i think the crypto will really be free from chain of SEC. and maybe CFTC will come supporting crypto.

Well, you have to be some kind of Bank shill, if you want to support the SEC on this issue, because no Crypto currency supporter in their right mind will support the SEC.  ::)

There are a lot of butthurt losers and shills for the traditional Banking sector that will support the SEC, but they have their own hidden agenda for that. The majority of the people on this forum will support Changpeng Zhao, because he provides a service to millions of people who wants to trade Crypto currencies.

That said.... a lot of Bitcoiners hate centralized crypto services.. so you might find that some people might appose centralized exchanges, because they advocate for self-custodial options. 

In this case I won't take side of any of them because I'm not in depth aware of their ways. However, Binance has been truly helpful in brining crypto-currencies to everyone and has really been helpful in that endeavor. I have been using that exchange myself and so far my experience with them has been good. I'm also a supporter of decentralization and decentralized exchanges but they are far backward in this advanced technological world. The decentralized exchanges aren't that good in their current state and I find trading on those not innovative at all. That's the main reason why I chose Binance and other centralized exchanges for trading purpose.

I think if Sec is taking such strong actions on Binance then they might have some proof regarding that and that's why I won't blame them either for their actions. If they are right about the fishy activates of Binance then they have the right to test everything in the system and might have some strong regulatory rules on the way. However, I still can't find 100% accurate allegations that should make Binance guilty for their actions but it seems to me as a new tactic for posing regulations on the exchanges.

To be sure I'm not on the side of the SEC. Due to the consequences of the SEC's lawsuit against Binance, the market was shaken and experienced a drastic decline. Which means that these actions have an impact on people in the crypto market who panic and make the market experience a sharp decline.

Has the SEC settled its case with XRP yet? I think there are many cases that are always hanging and never finished. and now there are many other cases that will add to the long queue on the SEC's list to deal with. I personally respect the SEC but somehow I don't really like their current chairman.

But because this is about who is right and who is wrong. so let the law and the judge in court settle it. I don't want to bother about this.

Because it seems that Binance users are not too panicked about this either. even BINANCE.US users can still withdraw their assets seamlessly from the exchange. Which proves that Binance really has sufficient reserve funds and is still able to maintain the trust of its users.

Binance is a leading cryptocurrency exchange that has acquired a large base and provides a wide range of services to the crypto ecosystem whereas regulatory user bodies such as the SEC have a responsibility also to protect investors and maintain the integrity of the financial system. For the details and outcome of any particular case between CZ and the SEC will rely on legal process, evidence, and interpretation of applicable law. it is not appropriate for me to take a stand or provide support to any of the parties involved.

Even though CZ has indeed contributed a lot to the crypto world, through binance, I can't just support it. Because even though Binance, which was founded by CZ, is very useful for investors in crypto, if CZ does have problems with the SEC with the current problems. So it has to be fixed, because if it's not fixed as soon as possible, I'm afraid it will have a negative impact on the crypto world. Because if CZ is innocent, surely he will be safe, but if CZ really has a problem, as mentioned by the SEC, CZ must be able to bear and fix it as soon as possible.

The SEC also accuses binance, definitely not with empty arguments. If the SEC is right, they must have solid evidence that CZ was always the founder of binance. Because so far CZ has been indicted
Source: https://www.google.com/amp/s/www.cnnindonesia.com/economy/20230606131659-92-958235/binance-diclaim-sec-as-atas-tuduhan-transaksi-illegal/amp

So in this case, even though I am an investor in crypto, I cannot side with CZ or SEC. Because the SEC is also not necessarily right with all of these accusations, so the point is that this incident only made trouble for the crypto world.

Wel, I'm sitting on the fence observing. But why support when you know they're after them personal needs. United States Exchange Commission wants full control. And exchnages, you shouldn't give your trust, they try to earn yours but you don't give yours. I feel like the Sec are blind, all they want is control and power meanwhile they're indirectly taking the states back when it comes to the innovations.
The Sec and the government are fighting Bitcoin and the mass adoption of Bitcoin, it'll be super odd to see a bitcoiner giving support to either of them.

My take is don't take sides, rather look at the whole case, observe and take sides with whoever stands with the growth and push of Bitcoin. It's a good time to see bitcoin bounce upwards you know. Why support and back a side that doesn't support Bitcoin and Mass adoption?

Binance has really done a good job in terms of the promotion of the cryptocurrency space. They have invested so much in publicity which includes advertising and endorsement. Binance has also made crypto transactions easy for newbies and people that don't care about privacy. The SEC is claiming that it wants to avoid the FTX saga from resurfacing so they have to protect the US crypto market from losses. I am sure Binance is not clean because it has some secrets it is hiding from the government and its customers. The SEC's target is not just to protect Binance customers but to control the crypto industry entirely.

I am a hardcore Bitcoiner and have no sympathy for both parties. Also, I don't know the details of this battle, so taking a side will be leaping without watching. Therefore, I have decided to sit and watch as more details emerge from this legal and political battle.

And from there, they'll know if SEC is just targeting them and keeps on poking with them through regulations but that could unlawful if that's the case. Until they comply with everything they're asking and everything has been complied, that's all they have to do. As we know that there's like a tough battle against these regulators mainly the SEC against the big exchanges and anything that's related to crypto. But that's it, they've been in the game for a long time and making millions to billions, they know how to do it and if this is just getting long and this is gonna repeat no matter what they do with a noise if there's no compliance.

That's because they are complying with the law, and it is the governments that are forcing us to KYC through Binance and not by Binance. Do you think if they did not comply with the law, would they be able to survive and develop until now? KYC is something that goes against concepts like anonymity and privacy that bitcoin has created, but for a business organization, it is a must and must be adhered to.
Binance is just a business company, and what they do needs to be legal and controlled by the government. If you don't like KYC, then don't use it, they don't force you to use their service.

I agree with the most part of this.

The part I don't agree with, similar to what I don't agree with in the OP, is that Binance and Coinbase should be known for "Helping the crypto community"...Did they help on-boarding and adoption? Sure. Did they accelerate it at an unnatural pace? Undoubtedly in my opinion. Should they be considered "Helpers"? I don't think so. I think they created businesses that profited from the growth of cryptocurrency, and maybe added to that growth, but that's as far as the description should go.

As for who to support - I don't support either of them either. Both are extremely dirty. The SEC target who they please while real criminals and dirty organizations are left untouched. Binance create, pump and dump shitcoins, manipulate the market, commit all sorts of malpractice and etc. It's no secret.

The battle ongoing is not whether or not Binance are guilty. It's whether or not the SEC have the power to actually go after them and successfully shut down the operation. I don't believe that they have the power to shut them down, and that Binance will just cut themselves off from the US.

The fate of Coinbase on the other hand, will either be because of deals done within the U.S. or the start of the U.S. cutting themselves off from crypto.

If I will be fair with my judgement, am mot in support of any one of them, being a genuine bitcoiner you should know the reason why government and centralized exchanges should both be avoided, here's not to launch attack on anyone of them but we have to take the approach from the right perspective and their roles played in bitcoin adoption, government will always attack everyone, Binance which is a centralized exchange has so many disadvantages to such that ones wallet can be freezed into their hands leading to loss of asset all because of being centralized.

Personally, I don't support anyone, I don't even have any interest in either of them. Even if it's the way the SEC works, which often makes the market rowdy, especially trying to drag Bitcoin, that's what makes me never like the SEC. Since the beginning, the SEC has always wanted to destroy anything that is considered not following its rules. Both exchanges and cryptos that are their target have an impact on other sectors. Not a few people glorify CZ, but once again personally, I'm still acting normal because CZ role is only as an exchange service provider, not to make us truly profitable. The noise that the SEC creates always destroys everything, prices in the market, stability of public trust and it all makes us realize that no one can be trusted to store assets other than private wallets.

Indirectly, we experience the positive impact of Binance, the number one cryptocurrency exchange according to CoinMarketCap. Even if you don't use it yourself, you still benefit from its existence because Binance strengthens the cryptocurrency community. The services provided by Binance are unquestionable and trusted by millions of people worldwide.

As for taking sides, since I have never favored the SEC, I support CZ in his quest to survive and soar high once again. The fact that he has proven his innocence is already good news for the crypto community and a blow to the SEC's reputation.

Most of the answers favor neither side, which is understandable since both are in their own interest and not for the benefit of people and the entire crypto industry. But to choose, I will also support and hope CZ will win this case. Not that I believe CZ is a really good person, but because I believe that if the SEC wins this war, they won't stop. I have a hunch that they are targeting everyone, including us, and not just centralized exchanges.
In this case, the SEC represents the government, and Binance represents the crypto industry, so there is no reason for us to refuse to support Binance in its fight against government repression.

As a part of the crypto ecosystem, I will definitely support Binance as it plays a huge role in building this entire ecosystem. It's one of the most trusted exchanges in the entire world. SEC is unfortunately trying to attack them so that they can make this ecosystem fall.

As a government organisation, SEC will speak the language the government which tries to control everything. Unfortunately, controlling crypto ecosystem is out of their capacity. Hence they are targeting the exchanges which acts as bridges between the mainstream economy and cryptocurrency.

People have become too selfish and have too much hatred toward centralized exchanges, so they are turning a blind eye to this suppression. But they don't know why the SEC is targeting the two biggest companies in the crypto industry, Binance and Coinbase. I also agree that the SEC is having a bigger plot than just cracking down on exchanges, what they want is to control this entire market. All participants in the investment will pay taxes and abide by the rules of the game set by them.

If the SEC wins, it will be pretty bad for the cryptocurrency world, regardless of how fair their charges are. The SEC can also show that they can destroy any altcoin they don't like. That's why I support SZ. I hope he manages to find a decent argument in this uphill battle

Yes Binance wants to keep everything and everyone under their control.  Previously KYC was not mandatory to use Binance but now they have made KYC mandatory and if any user wants to use Binance he must kyc. here Binance is forcing everyone to kyc. Now the problem is with Binance us which is not related to Binance.com. However, this problem with Binance.us may have some impact on crypto.  Because Binance is known as one of the largest exchanges and the message of its problem may strike fear into the minds of Binance users.  Because crypto users have seen another major exchange FTX go bankrupt

Both regulators like the SEC and crypto exchanges like Binance and Coinbase have their own motives and interests. While the SEC enforces securities laws and protects investors, this sometimes leads to conflicts with cryptocurrency exchanges that may operate in ways that are perceived as non-compliant or risky. Exchanges like Binance and Coinbase have played an important role in promoting and facilitating cryptocurrency adoption. So no matter who wins the case, there will be a big change in the crypto industry.

I support bitcoin. Cz is a great guy who has built one of the best crypto organizations in the world and has been at the forefront of bitcoin and crypto advocacy since I have known him. The SEC on the other hand is doing their jobs. Irrespective of the charges they brought against Binance, CZ, Coinbase they are just doing their jobs to keep the crypto space clean and make everyone sit up. Honestly, without them we would have scams and fraudulent crypto organizations trying to rip customers off. So, that is why I said I support bitcoin. it is honest. It is neutral.

If SEC protect investors, they will need a real written laws and guide for crypto. But if they could not even give a reason why a coin is a security, they better just step back.

These exchanges had been approaching them for years to lay their terms but clearly SEC wants to corner crypto companies with guides they don't even have but century howey test that dont apply to digital assets.

When Gensler said we don't need digital currency because we already have them like USD and all the major currencies, it means he really want to eradicate crypto. And not protect investors.

I obviously won't say that SEC is very clean and doing all this for betterment of the society but honestly Binance themselves aren't very clean. We all know how many market manipulations has Binance been accused of so far. Not only this we even know it had a hand in the FTX thing as well. So obviously if you support Binance also be sure you are supporting a side which has done many bad things for retailers as well.

This is a complex and challenging issue for the cryptocurrency industry. Cryptocurrency management and supervision is essential to avoid fraudulent activities and risks. However, there needs to be a balance between control and the viability of cryptocurrencies. I don't want to lean on any one side, what I need here is honesty and clarity between the parties, the side stories of the past day make me feel that the problem is becoming a joke between the parties involved. Anyway, hope that no matter what happens, transparency in matters will be enhanced, we always aim for a healthy environment.

I'm not one to normally take sides on legal matters until I see the entirety of evidence either, but keep in mind the SEC hasn't been clear on the statutory language of crypto and their classification as either commodities or securities. They'll create a treacherous legal environment to begin with, then start filing lawsuits at companies they want to target.

Subpoenas start being thrown around (judges will sign them off without cause) and then the U.S. government can force company executives to show up to court, and if they refuse, they become immediate criminals.

Totally im with this on which im not really that a fan on taking sides when we do speak about legal aspect or matter on which if there's something that needs to be clarified and prove out then it should really be needed up to be presented and its not really that shocking that government sectors would really be targeting out those companies or services or whatsoever that they would be able to spot out. You would really expect that there would really be that pressuring type of condition specially into the ones who had been accused or sued out or whatsoever in correlation into it.

Im not really into that kind of supporting just because this is what ive been using for several years now in speaking with Binance. If ever there are issues and been proved out then we do
know on whats next but i wont be shocked if this one would be an another show made by SEC which it isnt something new.

Picking sides without understanding the issue will mean picking the wrong sides. The SEC has a purpose and it will be wrong to criticize them for performing their function unless there is clear proof that they have overstepped. CZ runs a big exchange, one of the biggest in the world, he has earned the trust of many people, but since trust can be abused, the SEC is there to keep a watchful eye on his activities so he does not misuse people's trust.

I don't choose between those two, because Binance is just another big exchange that is under regulatory business that must follow the rules. And this is a business that is still in the category of a centralized-based system.

Whereas the SEC wants nothing more than to control whatever they think is beneficial to them. All cryptocurrencies they say and think are securities except Bitcoin which they can't really dictate. Sometimes what the Sec does is irritating, to be honest, I often notice that they only do Fud in these situations to affect the movement of the market in the crypto business industry.

I see this conflict as Bitcoin vs FIAT or Bitcoin vs USD so I'm definitely with CZ on this one. I won't be too surprised if it'll turn out to be a political issue and US are trying to punish CZ for not supporting Ukraine enough (not banning Russian users, freezing their funds etc). In any case its just another attempt to wage war on Bitcoin, so I definitely support CZ and Binance.  8)

My faith is on CZ himself. As they crackdown on all cryptocurrency activity in the US, this attack against CZ is more like an attack to bitcoin itself with the man being caught in the collateral damage. He's built a pretty nice albeit imperfect enterprise for himself and millions of people that used his service, and it stood the tests of time too with all these multiple bank runs they issued just to see if what CZ claims is true. Plus the SEC hasn't been the most upfront and honest department in the US. All filled with Senile people who barely know what the internet is and how it works, I can't really be confident in their judgement. Binance is regulatory, sure, and must follow within the laws and ordinances of its country of operation, but I don't think there's any real violation made by Binance, that is if you think that I don't know, using cryptocurrencies is legal (which it supposed to be is like what the hell?)

From a purely objective point of view, I think I will stand in opposition to both of them, given that they are both supportive of centralization and do not support the principle of privacy. I still advise using decentralized platforms and avoid using any of the centralized platforms, especially with large savings.
On the other hand, I am convinced that the US authorities are launching an attack on crypto service platforms to serve goals that fall within the same framework as the policy of centralization and non-privacy. I mean, it can be said that both of them are fighting over who will have the capacity to penetrate the privacy of users and impose decisions according to what mainly serves their interests. The Binance platform is not a pure angel, and it cannot be said that it is subjected to injustice, and the SEC is not a sponsor of rights and freedoms, since it has turned a blind eye to all platforms for years, waiting for the right time to target it if it opposes it in its policy one day.

Well, I think you said it all, the sec represent the government, and we all what the government are after, they just wanna be in control of every dam thing in this world, they make the law, and manipulate the same law to suit themselves when ever its not in their favor, the government have nothing to offer, other than to keep taxing us and then keep enriching themselves so they continue to remain in power and control..

Though I am particularly more interested in the decentralization of the entire crypto currency ecosystem, I have to state that in this fight, we as crypto holders and community must stand up for CZ, and Binance, it is true that it was done in a centralized way, but the truth remains that CZ in his capacity has brought more adoption to bitcoin much more than we all can imagine, so the sec must not win the battle, we must do all we can to ensure that does not happen.

I'd take side with cz just because what he has done for cryptocurrency, now don't ask what exactly because I wouldn't know either but one thing for sure binance wouldn't be where it is without him.

The conclusion I drew from the Binance vs SEC case
- SEC targets Binance because CZ is considered to be the one who tore down FTX & SBF.
- SBF is a big donor for political parties & politicians
- The fall of the SBF made politicians confused.
- Revenge on CZ.
- Also destroy crypto, because they don't care. All they care about is money
- Tokens that have been ICO & have a burn feature included in securities
- Why are Bitcoin & ETH not coming in? Because they hold a lot
- This will be an exciting war that will go down in history books!

I don’t think that we need to choose sides here, the goal of the regulators is clear and it’s obvious that they are not worried about investors and their safety, but I also can’t say that CZ is worried about this much, because in this situation he is worried about his exchange , which is fine.

In this situation, CZ defends the interests of the crypto community, and the regulators, as you rightly noted, are only worried about the exchanges paying heavy fines for some kind of violations, and they only hide behind concern for investors, but no one believes it.

i support Cz because regardless of his pros and cons as the CEO of Binance, he has done a lot for the crypto community, for example in my country they help donate to natural disasters, increase crypto adoption, and many other things. although many people say that Binance as an exchange violates some rules, what business is not like that? no need to be hypocritical because the average business is run in a dishonest manner.

so even if Binance made a mistake, whatever it is, they should only be given sanctions and fines, don't make them look like criminals, because that is a discriminatory act against the crypto platform.

I am not going to take anyone's side in this case nor do we have anything to do with them so let them continue to point fingers at each other and the victor can prove those accusations untrue. Basically Binance also wants to control people with KYC but the influence is not as big as the SEC, for me both are the same and there is no difference. If you think binance can help a lot of people because it provides trading services and conversion to fiat, do you think other centralized exchanges don't? they run a business and there is no reason to support anyone if they still have to do KYC.

If we don't know clearly the main problem that is being faced then I think being a spectator will be much better, especially if one of us doesn't use binance or doesn't live in the United States. Going too far on this issue will also not give any benefit and that is the reason centralized exchanges should be avoided.

I want crypto market to win, CZ might be fighting for crypto but I think they are fighting for the company reputation, CZ and Binance.US must have one way or the other did something that violated SEC rules and regulation but looking it more on Gary Gensler side, his statement yesterday seems like its now a personal fight between him and CZ because the Lawyer representing Binance said in 2019, there is a report that Gary Gensler applied to be Binance Advisor and was rejected and after he became the Chairman in SEC, he is abusing the power to take down Binance by all means, the statement annoyed him yesterday that he call crypto a scam scheme, this fight is personal, I am only concern about how the market is hurt by there statements.

IMO, looking at what's going on I don't have much support for either side, as an investor with crypto I just see this as a bad period for this market, but it's no exception opportunity to buy and hold more after the ongoing drama.
Some of the stories where I see the abuse of power as well as stifling the growth and development of prominent names in the industry, or just an assumption for the navigators to control and keep a lot of assets more in this environment.

SEC or Binance also for their own benefit, no one is better than anyone else. But I will also support CZ because he is part of the crypto industry, and if the SEC wins, then not only CZ or Binance will be the victim, and maybe we will all be managed and controlled by the SEC. But you're treating them like old people who don't know anything about the internet, which is too much of a disdain for them. Maybe they won't be too tech-savvy, but they're government agencies, they have thousands of advisors in every field. They know what's going on, and what they're doing is because they're too greedy and don't want to ignore a potential market like cryptocurrencies.

Binance isn't helping in building the industry instead they're building their own empire in the market. They're centralizing the market to get everything under their control so you shouldn't feel sad that they're getting attacked by the SEC. Both institutions wants the same thing, they both want control so they should fight it out for who gets the control. Binance wants to control crypto market while SEC wants to control crypto exchange.

Crypto should be a decentralized market therefore we shouldn't be supporting neither of them. This tokens been accused of securities might be security so the SEC mightn't be telling a lie. The SEC office won't just come out to sue Binance based on lies, they have solid proof.

Yes, both for their benefit, SEC doesn't want to protect us from scams as they claim, what they want is tax money from us. Meanwhile, Binance wants to be big, and it's all for their profit. It's hard to say who I support, but if given a choice, I would still favor CZ over the SEC and the government. If you want the crypto market to be decentralized, then you have to fight the SEC even more because what they want is taxes, regulation, and total control of the market. Meanwhile, Binance is just an exchange no matter how big they are, as long as you don't use it, it doesn't affect you. But if the SEC and the government were to control the market, that would be a completely different thing.

I certainly don't support either of them because I don't think either is arguable. Although the SEC is a very powerful organization it often uses this authoritarian power to control and manipulate the markets according to it's own wishes. CZ, on the other hand, is person who makes an effort to show that he is a good man but is actually an individual who directs the cryptocurrency markets and manipulates very seriously in this market. In other words we can say that both of them have similar characteristics.

If we need to look at the positive side it will only be possible to say the following;

The SEC is a very beneficial organization so that small investors don't disappear and are less crushed in the market. Of course, it should not go without mentioning the fact that it is an institution with many disadvantages for small investors.

CZ, on the other hand, is an individual who has put a lot of effort into the development of cryptocurrency markets and reaching a wider target audience.

In other words, although the person and institution in question have benefits for investors it should not be forgotten that both are not completely optimistic.

In another view, CZ has a big influence on the development of cryptocurrency in the world, especially the ecosystem owned by Binance, making it easier for people to access cryptocurrency with a centralized exchange method, if your partiality is on the basis of his services for the crypto industry, I think you have good emotional against CZ.
I might also take sides with CZ, but not really, considering that I don't really like the centralized exchange that has a very large dominance in this industry, this makes me think negatively for the future of the industry, but on the other hand also if binance is conquered by SEC, And policies in the accommodation by the government towards binance operations, the possibility of many exchanger who will follow and be under government control.

Let's just hope that the SEC doesn't find any dirt on CZ or else it will get uglier for crypto, I don't trust any of them because CZ is human and so are the SEC members, CZ wants the best for his business that's why it's looking like he is in support of crypto.

SEC is also trying to bite hard on CZ and Binance, I am sure they will be happy if the Binance exchange is in control of the government, CZ controlling the biggest exchange in the crypto space is what they don't like.

Either ways it will be a golden opportunity just like the Covid days, many people will surely decide to quit crypto and that's the best time they should stay.

SEC will surely find a dirt even if it’s fake or real. SEC will not gonna start a war against Binance if they don’t have a solid evidence against Binance. I believe they have an insider info from previous employee of Binance that feeding them the info. CZ is very smart on making a protocol in advance for handling attack against them.

People will just consider it as FUD when CZ said so since they are inform before this SEC announcement happened. I think crypto people doesn’t need to side on any of them. Why we need to support CZ if he will be investigated? It’s beneficial for crypto to investigate the most prominent and shady personality on crypto.

Atleast he can boost his reputation more if nothing can be found on him and the same time all his shady activities will be busted if there’s really is. Binance market should be only affected and not the general market because CZ doesn’t represent crypto.

In this case I really want to be neutral on the SEC and CZ. Both sides have interests they are fighting for and I never thought either of them would actually play clean. I only support crypto and its users, so I will not side with either side of the lawsuit.

Regardless of the current case - I think the crypto market will only experience impact temporarily as most investors and traders will probably be more cautious about the development of the case and its impact. Even if the market can impact - but it will only be a local problem for BinanceUS which shouldn't have a big impact on the crypto market in the long term.

There's no denying that Binance has made contributions to the growth and adoption of crypto. But there's also no denying that it has also done a disservice to Bitcoin. More than an advocate of what Bitcoin promotes, Binance is a business. It's after the money, not the realization of the vision of Satoshi. And just because it has done a lot doesn't mean it shouldn't be called out for what it's doing wrong. Binance probably committed a number of violations.

However, the SEC is also as rotten, if not worse. But it badly needs to function if only to prevent the undeniable fraud in the crypto ecosystem from getting worse.

I don't think we only have to choose between CZ or Binance and the SEC. It's not either-or. We can actually support both.

Binance was really helpful for crypto community but i remind you that if crypto community is also the main factor that's made binance as big as now.
The problem has been occuring for binance us and it will not be affecting binance global. SEC will not able targeting something that is not on its territory.



I can't call that becomes unfair caused by mostly of companies in the crypto were unregistered companies or not comply with the regulation.

The whales are always against retail investors. The whales are always fooling retail investors for their own purpose.

I have no reason to support Binance and no reason to support SEC either. It seems to me that Binance has helped users a lot to buy crypto more easily through the services they offer, while the SEC exists to protect its investors. Both are useful, but the SEC so far seems to want to fight crypto instead of Binance and its policies. I certainly don't know who to blame, but both deserve to be right as well as wrong.

Right now I think the SEC has tended to prioritize personal sentiments rather than institutions, so this case is bound to continue and won't be resolved anytime soon. I don't support anyone, but I really hope the SEC doesn't try to go against crypto and users.

I happened to read one of these news: https://www.theguardian.com/business/2023/jun/09/binanceus-prepares-to-suspend-us-dollar-deposits-and-withdrawals-from-exchange

Will this raise concerns about the impact on Binance's services and users, and possibly complicate the situation that has developed between the platform and regulation

It is unfortunate that some individuals within the SEC may be influenced by biased opinions or have an agenda that resembles a witch hunt. The previous attack on Coinbase before Binance could be seen as a distracting strategy, but it is essential to look beyond that. The events surrounding FTX have significantly altered the perception of Binance and the crypto space as a whole, given Binance's substantial influence in the market

I agree, the fact that CZ has been doing a very fine job for all of us in the crypto world, even if we do not use Binance then we can use something else that he helped and that's very important. Too many people forget that CZ has a finger on all of crypto, even when he delists something that looks like a scam, other exchanges follow them and delist it most of the time, except a few small ones. All in all they are doing a good job and I would trust CZ with my money any day of the week.

This is why I keep a lot of my money at Binance instead of self custody as well, I do not trust myself as much as I trust CZ and binance. Which is why if you put CZ against SEC (or any other American organization), I would definitely support CZ without question.

I would personally not take a side knowing none of them are really favorable, Binance is probably having issues, and those accusations aren't made out of anywhere, and I would definitely not take the side of an authority that is basically always fighting to either suppress or regulate cryptocurrencies in any way they can. So I'm neutral in all this, but, I would probably not want things to go bad for Binance because that will be bad for the whole market.

I use Binance for trading, but that doesn't mean that I support whatever they do or have allegations for, but for the sake of the market so that it is not disturbed much, I would want Binance to come out clean from all this and the market to become to its normal path once again.

You don't need to feel the slightest bit of pity or sympathy for the people in charge of binance. They are billionaires who got rich by charging extortionate fees as an exchange and make huge amounts from their trading platform. I don't begrudge them for getting rich but I definitely think that they skirted the law or came within certain boundaries of the American financial regulators. Especially when there are texts that show them actually mocking and laughing about such law breaking. Anyone who targets American users, which they did extensively because they are the richest market, knows full well that regulators will be all over them.

Its just standard thing to happen on which penetrating or trying out to ran off a business on a country which considered to be rich and powerful then expect that everything would really be monitored out and if

they do wanted to throw up some issues then it would possibly happen but of course they wouldn't really be doing that without any solid issues to be thrown because that would really affect out their credibility.
Most people would really be having that kind of negative views and impressions towards government but of the sake of protection of citizens then i wouldnt really be objective to that because its something that
needs to be done. It is really just that government could really make out some false issues even it werent right just for them to stir up situations.

Just like the rest on here that im aint a fan on supporting on every side on whose side i would be in. If there are some issues been raised or thrown out then it would be simply be cleared out if the
other side is really that not doing something at all.

CZ no negotiation, who has the sec impacted anyone's life positively? But cz and binance has been able to impact many lives in the crypto community directly ot indirectly.
If the sec are fighting a genuine cause of crypto regulations then they should go about it in the right manner, not this onesided attack they are doing. From the look of things, they are only damaging their credibility the more.

CZ of course. However, it is not like I am in love with CZ. It is because I hate the SEC way more. The SEC should leave crypto alone. It is not the SEC's responsibility to make rules over crypto. Crypto ain't no securities so SEC should gtfo and CZ should close the exchange that serves the US customers. It is nothing but trouble to do any business with the US. The rest of the world should sanction US till they get their shit together because lots of people pissed of by the paranoia of the US government.

I'm only concerned about crypto developments than CZ. I also support CZ to solve the problem but of course I don't personally support it. The US has emerged as one of the countries that might not be happy with Binance being without any revenue from it, but in other news, some US governments seem desperate for this crypto not to develope there.

Let's just face it that this is the reality on these exchanges, no matter how good they are. There's no way that they won't be chase by the SEC. It could be a disturbing tactic to make everyone uncomfortable into using them or they did really made a violation, this how it goes.

Whilst it was CZ that has opened that fiasco to the public, now he's being attacked. I'm not gonna support him or SEC, these are like normal things that we do get for being in here.

There is no worth supporting anyone but I think I will never ever support SEC because SEC is misusing its powers and manipulating the market by all means, Crypto industry is not a small one and it's not like just money making is a revolution in each and every sector whether its technology whether its Innovation or Solution packages from Dapps to the self custody. They are trying to forcefully save the rusted economic system because they are trapped in it and they are using the power now people are demanding their rights by choosing their own interests and assets which are not accepting.

Reality is they want to save their traditional sources by printing more money but the fear is when they will print new money and offer it to the customers there are high chances the customers will take the money and make deposits in crypto market.

Binance is a good exchange and I still don't know why the government had been making unnecessary efforts to prosecute the exchange for nothing. Many of the charges that was label again Binance does not even existed and the sec is still trying hard for make things difficult for the crypto exchnage for nothing. Should we say that this could be as a result of the consequences between the China and the US trade war? This is unnecessary and Binance can even decided to leave the American soil for a better place where they would be recognized and be respected.

SEC will always be SEC, they are one sided and wants to create panic in the market.
CZ and the whole Binance team really did a big change in the whole cryptomarket and we have to support them if we still want to have freedom from ang government intervention as crypto serves its purpose. Binance will survive on this, and we should not panic at all because SEC can’t prove any irregularities at all.

I've seen too many major crypto-currency exchanges went in the wrong way over the past ten years. Binance is not one of them. If it's not for CZ we might see same thing for Binance but he operates it so well that it's still the leading major exchange in the industry. I hope it will go like that for a long time. There is no point supporting SEC in this case anyway.

I get that we are all on his side but what are we really doing about it? I mean I am keeping my money in crypto if that's the question and I did not sell during this period and I do have all my money at Binance, but what I have at Binance right now is probably not the money CZ would even consider, he probably spends more money on a single meal than all the money I have on binance at the moment, I have donated all my money back when earthquakes happened in my nation unfortunately to a charity organization, so what I have doesn't mean anything. If we all keep using it then maybe it would be nice for him, but we can't do much else, that's the only thing we could do for him, that doesn't really scream support to me.

It's not a surprise for me. The problem that was coming from SEC against binance US has been triggering binance US's partner to feel doubt by facilitating binance US to access USD. I guess if the banking partner of binance US has become the main problem that makes binance US suspends its deposit and withdrawal for US next week. It's not a complicated situation. Binance US's partner was feeling worry to deal with binance after it has been getting major problem against SEC.

It's caused by binance US partners are not willing to join in the problem that already faced by binance US.

I won't put my nose in other's business so I will not support any of the two.  Rather than meddling with other's business I think it is much better to look for alternative if worse came to worst.  Aside from that, it is better to take the importance of the cryptocurrency that is deposited on Binance and move them out before the rulings is decided.  Who knows the possibility of Binance being affected aside from Binance US if the SEC for further faults of Binance operation.

The SEC sued XRP 2 years ago, and the lawsuit is still unresolved, and before they sued Binance and Coinabse or Coinme, they stated that all cryptocurrencies are securities and should be regulated by them. That alone is enough to show us what their real purpose is. They are not against cryptocurrencies and users, what they want is to control this market. I don't know if people want them to manage us because they say if there were regulations, scams would be significantly reduced. But for me, I like the same freedom as before, not being controlled or bound by any regulations. So I don't support the SEC in this case.

Exactly, lol. The SEC cannot do anything but bark. But I guess that is their job, so it is not as surprising.

What most people seem not to understand is that right now is the point in time when people realize that the current Binance vs SEC and Coindesk vs SEC is nothing but FUD and it will soon lead to FOMO.

This kind of thing keeps happening in the crypto world. And how many times has the SEC been able to do anything? They pretend they can take down the blockchain by punishing centralized exchanges who offer (decentralized) crypto. And a decentralized currency does not need a centralized exchange.

I don't support both of them, of course. It is obvious that both of them are dirty. For me, the only concept I support is the concept of decentralization. In order to manipulate the classic market, SEC opens such an investigation to the big crypto exchanges just to create fear in the market, we have been used to it for years. I think that CZ has done its job cleanly, globally, it has done its job according to the laws in all countries without problems, and it has become the largest stock exchange in the world. If you want to damage the reputation of cryptocurrencies, you have to deal with the biggest. I think this is always done and will continue to be done. At the end of this case, Sec will get nothing.

Indeed, the decision can be attributed to the SEC's aggressive tactics, such as the attempt to freeze Binance's US assets, and the challenges faced by the exchange and its banking partners. the question on my mind is will this trigger a market correction again and there is more Robinhood news to Delist Cardano, Polygon and Solana https://watcher.guru/news/robinhood-to-delist-cardano-polygon-and-solana. it seems worse.. :D :D

Yes, they're both dirty, both for their own good, but we used to think about what would happen if the SEC won with them all. Will they stop and let our market settle, or will they continue to attack and completely control us? Why didn't they care about us years ago when we were so young, we were nothing? Now we are bigger, more mature, and they attack. They do it for their own benefit, not to protect investors, as they claim. The SEC is looking at our pockets and our liberties. I don't support anyone, but I don't expect the SEC to win.

My say on this situation ls that it can be almost equally silly to support both a government which may be trying to suppress the liberty of the citizens and a company which is just trying to do what any other one like to do: generate income.

You can support Binance, because you either feel it is a good service or your ideology leans onto small government and regulation, but never forget that Binance as any platform does not owe you anything beyond the balance you have in their wallets and you do not owe them anything. Their duty as a business is to be a good business, because that serves their interests.

People defending brands as they defend their parents is very strange, in my opinion, so are people who get logo tattooed on their bodies.

If anyone feel like defending so much a company, the minimum I would expect it would be them to be shareholders.

i still side with cz . if binance does exit crypto then crypto's largest market will be exhausted, and i believe it will affect the crypto community in at least a 30 to 50% drop in crypto volume will be lost. building binance also must have been a long struggle, but if it was that easy the SEC closed it I think financial freedom is indeed more complicated than before.

I am going to support who is right. If the allegations against CZ are true, then no doubt I will support SEC. Then again, we need to find out who is in the wrong. SEC is trying to control people. I agree on that matter. But what about Binance exchange? It is centralized, too. Have you heard about forced liquidation? In exchanges, the owners have the control over price manipulation in order to make liquidation happen on their wish. This is a very nasty thing that they do. And I don't think CZ have never done that. He is not 100% pure.
Also, coming to the point of SEC. They have their own rules and if you want to do certain business in certain places, you need to follow them. The thing you are talking in OP is about people's freedom using cryptocurrency. It comes with decentralization. You can not make that happen when you are using a centralized exchange to do it.
I am not ungrateful for what Binance have done for us. But then again, they are not clean. So I will stay neutral for this matter.

The problem is that the SEC went to war with the cryptocurrency world with a superficial understanding of it. To them, all cryptocurrencies are securities. But then again, cryptocurrencies don't belong to any state, so either international laws or no laws can apply to them. And single taxation of cryptocurrencies is not possible yet.

Then how can you find answers about who is right when both are justifying themselves? Look at how CZ keeps its business and customers, but the SEC also wants to win for any allegations they might be able to prove.

Keep one thing in mind - crypto is in jeopardy because of the SEC and that is because they seem intent on attacking crypto instead of carrying out their function. What do you think about it?

I haven't heard of it - but how about proof, has someone proven that to the community?

It will probably even worst than it. Robinhood was SEC compliant and it must be following all of rules that being made by SEC. Delisting those coins were not big surprises since SEC sees them as security coins.

People in robinhood are liquidating their ADA, SOL and Polygon. It was triggering a huge dump for those coins especially for solana and polygon.

People are also worrying about the potential for SEC to suspend robinhood's service. Delisting those coins will become the best ways to avoid sanctions from SEC. Robinhood is not interesting to take the risk to deal with SEC.

Delisting is the best way to avoid the sanction. Meme coin shall be delisted from robinhood as well.  :D

No asset or market can exist in this world without being regulated and controlled. We still live in a centralized society where the government runs everything. Such things like this won't go away anytime soon until the government achieves their goal. There will be no exception, even with cryptocurrency, they will find a way to manage it, if not managed, they will be ready to sabotage and list as terrorists and extremists. But I hope CZ wins this case, otherwise, SEC will regulate this market soon, we should hope our freedom lasts long before they control us.

The communication between the parties is not clear and the competition is back and forth between the parties, and unfortunately it has a negative impact on the crypto market. I don't support anyone in this situation, but looking at the long-term I think this also needs to appear for the market to be stronger after various crashes. Both the SEC and CZ have their own arguments, from an investor perspective with crypto I can also feel people are afraid that binance might collapse after this event, but for me the optimism with the market This school is more, facing many serious situations in the past, I feel that everything will be better.

I have no reason to support either, Binance is a private corporation and everything that its CEO does has the health of binance in mind, if the rest of the market benefits then that is cool, but they do not care about it.

And about the SEC I do not support it either as it is an institution that is trying hinder the growth of this market with their regulations, so let them fight each other to a standstill and then come to an agreement like they always do.

I think it's normal that individuals have different perspectives and reasons to support Binance or other companies because they value the service provided by Binance and Maybe they have been trading on the platform for a long time, regardless of the current case. related The decision to support CZ or the SEC is a complex one and depends on a variety of factors, including personal beliefs, values, and perspectives on government intervention and the business practices that I look at.

Binance exiting crypto is a big if to be honest and I don't think that they will easily fold against SEC, also I don't have any firm knowledge about this but isn't Binance an International company? Meaning that they can still operate outside US? I need clarifications on that. You don't need to worry to much about this though, I am sure that they won't be able to shut down Binance.

I think it would be a stupid decision to side with SEC in this battle and you're asking that question in a crypto forum so I don't think you would see much fair fight in terms of who's right and wrong. All we can do is just watch in the sidelines and hope for the best.

I quite agree with you, tho bitcoin has already lives for a decade now but if the SEC win you are gonna see price bleeding for maybe like a couple of weeks because US investor cant do what they want to do, at least they do legally.

Crypto basically bypass things like this but the government has full control to regulate, meanwhile, just look up the news and now is more than 20 crypto that are considered as securities https://beincrypto.com/full-list-cryptos-securities-sec-lawsuit-binance-coinbase/ it could be more

Im not trying to defend Centralized Exchange but they should win the case for the crypto because centralized exchange too we can see the mass of crypto adoption.

if they won the case you can see more adoption to crypto right

I may agree with you, This can create uncertainty and worry among investors, which can trigger asset selling and depress prices in the short term. But my view is that the long-term impact of any SEC ruling, however, depends on how regulation proceeds and how the market and the crypto community respond to it. There may be efforts to find solutions and partnerships that benefit both parties.

Exactly, but being the lesser or the evil? maybe for some of us here, they might support Binance against SEC because admit it or not, majority of us here have used Binance one time or another.

And we all know that SEC is like doing a witch hunt, everything that they can find and exploited against exchanges, they will do it without a heartbeat so it's not good for crypto enthusiast, specially those coming from the US. And it seems that SEC is really curbing out not this crypto exchanges, but the technology itself.

why is this a binary question?

I know it is normal to support a party or another one, depending on our personal believes. But I am referring to the kind of people who fanatically defend a company, as if they were shareholders.  ::)

Havent you ever dealt with that kind of people? I have seen people who love Nintendo or Apple enough for them to get permanent tattoes of the logos of those big companies on their bodies.  That is what I am talking about, brand fanboy-ism.

That's what I was thinking too, after the SEC handles Binance and Coinbase, who will be the next victim? We? That's what I fear, but many people gloat when the SEC hits centralized exchanges. Because they hate centralized exchanges, and they think they can borrow the SEC's hand to destroy all the CEXs they hate. But they despise the SEC because the SEC won't stop, and the next victim is none other than the entire market.

SEC aren't the government in disguise, they're the government themselves because they control and regulate the market. They're trying to control cryptocurency exchange on the market and they know of they go after the big exchanges and win then it'll be easier when they go after the smaller exchanges. SEC wants to control and regulate the cryptocurrency market as they're doing to the stock and forex market.

Binance exchange and Coinbase are centralized exchange and they're meant to obey the laws of any country they're operating in. Only decentralized exchange are free from this lawsuit. Centralized exchange needs the approval of the SEC of whatever country they operate.

That is why I think we should support Bitcoin and forget about centralized parties (being them governments or private companies), because they always have hidden personal interests that to be achieved people like us, common citizens and crypto enthusiasts, have to be used as disposable tools by the powerful ones on the top of the system, including CZ and US government's agencies.

They are fighting among themselves for their own interests which have nothing to do with us.

To be honest, I wouldn't support any of them because the SEC is in fact Gensler, who got screwed by that deal with SBF where they'd meet up and discuss God knows what, andd then SBF would steal money from his clients under Gensler's nose.
CZ is doing insider trading and is ready to list any shitcoin as long as it pays the listing fee. How would you support someone like that?

The important thing here is to realize that bitcoin is not crypto and bitcoin is not  a security. that's all there is to know.

I think Binance applies KYC verification isn't to control people, but it is about security and validation. Binance wants to ensure that it is a real person and everyone who joins Binance fulfills the Binance requirements. For example, you must know Binance excludes some countries, so people from the excluded countries aren't allowed to join. To know it, Binance must ask for KYC verification.

It is about our choice, if we don't believe CEX, simply use DEX only.
What we must understand is that CEX helps us to develop crypto industry. CEX has contributed to attracting people to join crypto massively. We can't deny this fact, CEX is very helpful and has its own role. Newbies also can learn how to trade crypto coins with the demo account on CEX.

The SEC is trying hard from the XRP case until now has not found a clear answer in terms of the concept that was established. if you've ever heard of FTX, SEC is behind the biggest market. I think CZ is extraordinary in responding to crypto-related cases and the struggle so far has been great. SEC drama may come in another year to come when the current drama is over

I don't know what the real case is. What the SEC accuses has not been proven to be true. In this matter, I still support Binance because Binance is the best exchange in crypto and it has a big role in crypto world. As a crypto user, I think it is normal if we support Binance as long as the accusation isn't proven as the truth.

Binance has standard criteria to list a coin, they don't list any coin carelessly. It is not as easy as listing a coin by paying the funds only. Anyway, shitcoins aren't scam coins, so what's wrong with this? As long as Binance doesn't list scam coins, I think people will have no problem with that.

BTC is not crypto?
Is it a non-crypto coin?  ???
As far as I know, BTC is a part of crypto coins.

Other thing is that if SEC win I am worrying that the rule with more more countries because a lot of US rule also that been widely using by other country, and if this happen Crypto that supposed to decentralized will become centralized

They literally can't have a target bigger than Binance, it is the top cryptocurrency exchange out there and they know how widely it is being used by cryptocurrency traders over the world, and they also understand how much of an impact this case will have on the overall cryptocurrency market since there will a lot of FUD, panic selling, and fear among institutional and retail investors which cause the market to plunge.

Authorities can't see cryptocurrencies take over the traditional financial systems so they can't just let it happen and will try their best to cover up and keep them away from the citizens as much as they can, but eventually, we will see them failing in the long run.

I don't really care about Sec or Binance, couldn't care less. The problem is that Binance has too much influence over crypto market and I am a person who has financial interest in crypto world while using and appreciating all the benefits that crypto gives to us. So, for that reason, I don't really want the situation to go bad, I prefer stable environment for more crypto growth, so, hope things go well, without much drama and people start to realize that when you are hanged and someone gives you a knife, you should cut rope, not your throat.
What people do in crypto world is that they use cryptocurrencies to transfer influence from one centralized institute to another centralized institute, they don't use it to escape from centralized institutes.

A lot of people here would prefer CZ over SEC without a doubt but you need to remember that a lot of people who are not Americans are here as well, that's an important part of the discussion.

On the other hand, we are also talking about a situation where it is going to be clear who is going to win this, SEC will do whatever it wants to do and nobody will be able to stop them, the ones who could stop them will not so SEC will wall all over Binance in the USA, not that they can do anything to global one, but the USA version will be crushed if SEC wants it to. This is why who we pick doesn't really matter, in the end it all comes down to the fact that they will do whatever they want and that's the only important thing for them.

That will certainly happen if the SEC wins. And that's what a lot of decentralization fanatics don't think about, and they think what's going on has nothing to do with them. But once the SEC wins and the government represses harder, our privacy and anonymity will also be at stake. We can only use them in the dark and circumvent the law to use them, and to me, that is a failure.

You don't need to be a US. citizen or you don't need to support a US. cryptocurrency company to win their fight against SEC attack and lawsuit. Because either Coinbase or Binance US. win, it will be a win for global cryptocurrency companies against SEC. The whole world looks at SEC. and regulations from the USA. so that I don't want to see either  Coinbase or Binance US. fail in their fight against SEC.

They are fighting against SEC. unofficially on behalf of cryptocurrency industry and you know, results of those lawsuits will stimulate the cryptocurrency communities in either positive or negative ways. Which one is your favorite between negative and positive?

Weeks after the SEC. lawsuit announcement, Binance US. and SEC. have shown some signals that they will come to a middle agreement to handle the lawsuit that means Binance US. will not fail and not be knocked down by SEC.

We are fighting against SEC Commission because they have bad reputation for cryptocurrency, I agree with some investigation from SEC Commission but many coins die when SEC investigated and XRP success win against SEC. SEC Commission interfere all business kinds not only about cryptocurrency but also all kinds business depend not profitable for them. As cryptocurrency influencer I don't believe yet with SEC Commission and many kinds of their investigation have bad impact for cryptocurrency.

I hope with all trader change their minds with SEC Commission and never take care what SEC announcement about Bitcoin or cryptocurrency, its our time right now as cryptocurrency holder how to build our trust without SEC Commission and they not give us positive impact although many time investigation with cryptocurrency.

This war is no different from the crypto industry's fight with the government. But many people do not support CZ and Binance because they think the SEC is only against centralized exchanges and shitcoin and has nothing to do with bitcoin. I see a lot of bitcoin maximalists supporting the SEC in the recent crackdown and praying that Binance will fail soon.

Although there is an agreement between the two parties, I believe that the SEC will soon find something new to continue against us, they will not let us go until the ultimate goal is to regulate the market.

With what the SEC does sometimes I think the goal of the SEC is to destroy crypto,
I know it's just my wild thoughts but the investigations carried out by the SEC have had a lot of negative effects on crypto as you said,
Regardless of what it is, we must support the truth.

Everyone imagines that the accusations against Binance could lead to its closure.  All accusations are about its services provided to American citizens, which come in parallel with similar accusations against other platforms such as Coinbase, as well as other platforms that were forced to close as a result. 
Personally, I support these accusations since they are based on a legal basis and also because they impose a tracking and monitoring policy on Binance, which has begun to form a kind of monopol based mainly on the fact that it is not being tracked and no one knows about its internal kitchen.  What is happening with Binance has affected the rest of the platforms, which have begun to take measures commensurate with the laws and procedures on which sec is based to activate procedural traces.

I don't think there is any plan to destroy crypto, these are more attempts to introduce control, in the sense that governments have insight and control over the circulation of value. It is not in the interest of any government that citizens have some money that they have no insight into and cannot be taxed.

On the other side is Binance, which is certainly not the lamb in the whole story, we know from earlier about their various manipulative actions and it is really necessary that their influence be brought under control.
But whether we want to admit it or not, Binance is one of the most important crypto services and its possible disappearance will cause serious shocks, probably the biggest so far.

Therefore, Binance (and any similar service) definitely needs to be under greater control, but it is also needed in the future.

Yeah its good to support what Sec actions done to binance since for sure they and other new crypto businesses will be watchful to the requirements or other things they need to do to comply on legalities on said country and so they can operate without violating the law in US. If we can see the brighter side of the regulation they did this will benefits us since we can assure that we are now dealing with good crypto services by the help of the government tightening its rules to those crypto platforms.

The SEC certainly has data and a strong legal team, so if CZ can win the SEC accusation then it will have a stronger reputation, I hope CZ can defeat the SEC accusation because if CZ loses there will be a bigger market shock than FTX.

I don't have too much confidence in any of the parties, although both the SEC and CZ are subjects that I don't like them at all in the areas in which they operate, but the actions of the parties recently and in In the current market context, it doesn't make me think of a bigger negative, the issue of BinanceUS has also had bad signals about its performance, but overall here binance is a big player really in this industry and the fact that this piece of market share makes many parties jealous is inevitable. Similar to some previous scandals, I believe that over time everything will be sorted out, and we don't need to be too worried when currently before a lot of big news is appearing in the market.

It doesn't really matter what Binance wants, they are required KYC their customers by law as regulations have gotten tighter on cryptos.

We should worry about our own equivalence to SEC. EU has ESMA and just released new crypto-assets regulation, China has CSRC and so on...

I am pretty sure darkangel11 means that Bitcoin doesn't represent whole crypto. It represents only itself.

The problem with the services provided by trading platforms in general is that they operate without supervision and the government agencies responsible for monitoring do not have the necessary technical mechanisms.  This almost happens in most countries that grant licenses for the activity of trading platforms.  This helped the trading platforms to operate freely without accountability. 
What is happening with Binance is not exceptional, since there are other platforms that have been legally tracked in parallel, and this, of course, is due to the eligibility of the American system, which is able to provide an appropriate technical infrastructure capable of accommodating various activities, even modern ones.

We cant really totally be able to tell that this is for the sake of safety of everyone or to those citizens under their vicinity because sometimes these kind of  decisions like this are really that having those hidden intents.

Im not making some conclusion but we arent that blind that this isnt something first time that do happen on this space. Government does really like or want to get involvement on crypto based platforms and trying out to throw up some issues and other means which if they do want or like to make some noise here on this space then they would always be targeting out on what are those places which most of crypto community been using. Just like on Binance on which this had been the most popular and known or reputable crypto exchange then its not shocking on why they have put up that focus into it.

Supporting? I dont love on supporting anyone, if there's someone needs to answer up some issues and there should be needing those possible sanctions or whatsoever then i dont really care
but this one really make out that impact on this space which it isnt something new.

Wow, that was a tough one! And you agree with these charges? You're right that no company, crypto or otherwise, should be able to hide in the shadows, but don't the decentralised and anonymity of cryptocurrencies lend to their appeal? To me, the idea of a "internal kitchen" is a hilariously ironic twist. Don't get me wrong; I support laws and rules when they are necessary. Calling on a sector founded on secrecy to open up more is like asking a cat to talk. Remember that the point of cryptocurrency is to circumvent the banking system as we know it. However, the SEC's actions are predictable. Regulatory agencies carry out their mandates. It's inevitable that they'll start participating as the cryptocurrency industry expands. This is not to say that we should immediately side with the accused. It's more about striking a middle ground where both perspectives can live.

Supporting!? I would support all kind of acts based  on legal accusations.
I do not like the idea of ​​canceling the fact that we live in a world system based on centralization and that it cannot be canceled.  It means that the only solution for users is to ensure at least the greatest amount of security in exchange for their privacy that they have given up.  According to what I noticed, SEC is the first that was able to file charges for some of the activities of the platforms according to a clear legal reference, which also explains the platforms’ violation of those laws.

I will also not gonna support anyone of them. Because they both are on the track of centralization like SEC is government-driven that wanna control us on the others hand binance is look likely to help the eco system but actually they are also wanna control us indirectly by the crypto eco systtem. They support cryptos not for helping the crypto communities peoples its for their benefits. And thats whay I will not support them, what I will support it will be the man satosi and his invention bitcoin. ;D.

In the way i see things, also how most users and Bitcoin lovers would think about this case or what happened lately between the Sec trying to break Binance with CZ ahead is something that would effect the market, cryptocurrencies and bitcoin in a very bad way knowing that Binance hold the majority of Market. So we all agree that Sec are only here to destroy what has been built in years and could change the old broken system to something good strong and more secure.
The other hand where we see CZ is building Centralized system and took of what bitcoin originally planned to be. So in this case we don’t support any of these two sides, we are with decentralization !

Those both organization have a power to make a centralized or control for their community, the essence of the crypto currency is to make all process decentralized but with the exchange you are using you are letting them to have your data, limit the transactions and hold your funds which is too far for the use of it the same with the government we know they can control this too at the same time even the Rates and taxes included for your every transactions. But at the end its all about the Law if the country banned a particular platform they can't do anything just to restrict. No matter what happen the users are the one suffer of this discussion

Regardless, I think our support will just a waste of energy because we really don't have any say on this since it is a legal proceeding, all the discussions and decisions will be done through the court.  Besides, there is no benefits on us no matter which side we support since this is both centralized services and Binance will never give us any reward if we give our full support to them.  Just let them be, let the process goes on and just accept whatever the decision of the court is on the case.

I also don't really understand about china because they ban Bitcoin but HongKong is allowed crypto there and even regulated there and you might know that Hongkong is a special administrative region of China. and they even want to become a web3 hub for the Crypto Sector - https://www.bloomberg.com/news/articles/2023-07-05/why-hong-kong-wants-to-be-a-hub-for-the-crypto-sector

and other cases is Judge rules XRP is not a security in SEC's case against Ripple - https://cointelegraph.com/news/ripple-wins-case-against-sec-as-judge-rules-xrp-is-not-a-security

That is Great 

Hongkong belongs to China but it has a different political, economic and social structures than China mainland. At least till now, the China mainlaind has yet fully controlled Hongkong in all aspect of social operations on the island.

That is a massive winning for cryptocurrency and blockchain industry. Many cryptocurrency companies and projects can celebrate this winning together with Ripple XRP no matter they like Ripple or don't like Ripple.

Don't be optimistic just yet, watch and read news developments. That right, if you saw yesterday, people were very FOMO and enthusiastic saying that XRP would soon go to its ATH. and did you know that the SEC also filed an SEC review of the judge's ruling on Ripple, the court's finding that under certain circumstances, the offering and sale of XRP tokens by Ripple violated securities laws. and the Court also rejected Ripple's argument regarding fair notice, which held that ignorance was not a defense against securities law violations.

Support can be conditional, it is clear that users will not be able to influence the litigation in any way, but I think the point here was to evaluate what contribution CZ and SEC made to cryptocurrencies. It is obvious that the SEC slows down the development of cryptocurrencies, each time trying to blame someone, and as the example of xrp showed, these accusations are not always justified, sometimes they are aimed only at penalizing one more company.

It's nice that Binance is trying so much to win against the SEC and at the same time this is one of the ways to know if truly CZ is clean, I like CZ and I also like the fact that SEC is troubling CZ right now, if truly CZ is fighting for crypto space he will always remain clean, and nothing will implicate him, and so far it's looking like CZ is right on top.

I will like you to understand that Binance exchange is a business company and its also a centralized exchange, we can say that the exchange is fighting for the sake of the people in the crypto space but how will they make money if crypto goes down? So yes they will always do this for their business to keep growing.

It's all business.

It is true that we cannot interfere or have any impact on the case because the court will decide everything. But if possible, I would also support CZ because at least they are part of the crypto industry, and we are using the services they provide. Although the SEC is just trying to control and slow down the development of the crypto industry, if we support the SEC, it is no different than we are supporting the government to intervene in the market to regulate them. But I don't understand why so many people support the SEC.

Yes, it is quite difficult to choose between the two. because both also have their own interests in this matter. CZ may be on Crypto's side and his loss could have a bit of a knock on effect on the crypto market. while the SEC is also struggling to maintain the security of its citizens regarding finances in crypto investments which are increasingly popular. And that is only what appears on the surface. But we don't know what drama is behind all of this. So I prefer to ignore it. But if I had to still choose then I might be on CZ's side. because CZ's loss could impact the crypto market sentimentally.

Funny how you don't want to know who is wrong in the matter or not.
It doesn't matter what Binance adds to the crypto community, if they're guilty they gotta be punished. We can't just pick sides like that.
We know how the government wants to control everything and all but if you look at it from a different perspective, the SEC is just doing its job. It's their job to make sure the activities of Binance are in line with the regulations.
So for me, I'll support whoever is right and since I don't know the full details of the case, I just have to wait and see how things unfold. Binance is not a small company that can be bullied, so I expect them to fight it well.

I would like to whisper at the SEC that let's ignore the things that you guys are taking a stance on crypto and especially some of the companies you allege before or maybe in the future (including CZ).
Honestly, these issues I think will soon be resolved and then we will see the market calm or vibrant again, no matter which side wins, the market will survive and develop in the future longterm. I will support them CZ, and believe that they will soon prevail on these issues.

Not to be bias and take side, CZ and SEC both have a thing in common and is money hunting, while SEC may be doing his hunting from the bigger thief that happen to be CZ and Binance and CZ is stealing from the people he is always ranting he cared dearly for, if a thourogh investigation is done on Binance, there is no way he will be able to deny it that they are clean and transparent but because the SEC knew that going after them will hid to nothing because only a crypto person will understand that Binace will be good at cleaning evidence. However, SEC is doing behaving in a silly structure by labeling all the top altcoins as security which I see as way to crack down Binance and crypto companies. It is not making sense with the way SEC and XRp ended in the court and there reputation to the public will no longer be there.

There is a misconception, the centralized exchanges are not forcing you to keep the coins in their exchanges and limiting your transactions, you can simply withdraw the coins and hold them in your wallet where you have full control, its far easier to purchase cryptocurrency through a centralized exchange because of the rampant scams if you are trying to purchase from other sources.

In this situation, i would support CZ to win rather than the government controlling the market.

Or maybe china decide to put hongkong for the crypto industry and see if everything  goes well than china is going lift the ban for the crypto industry it would be great.

---

and yeah after XRP win and right now The SEC proceeded (https://t.me/telonews_en/7210) to officially acknowledge Fidelity's, VanEck's, WisdomTree's, and (https://t.me/telonews_en/7137) Invesco's (https://t.me/telonews_en/7137) spot Bitcoin ETF applications.

https://www.talkimg.com/images/2023/07/16/ZhQXJ.md.jpeg (https://www.talkimg.com/image/ZhQXJ)

Yes, there must be a war of drama behind all of this which we never know for sure,
the impact on the crypto market is real and we know the crypto market is so sensitive,
simply put if we are in crypto then we support CZ.

Binance has done a lot for the development of cryptocurrency, I like their grant programs for education, financing of new projects, humanitarian aid in case of natural disasters, here they have proven themselves really from the best side. And I understand what the SEC wants from them not so long ago there was a collapse of a rather large FTX exchange, and after that, global harassment and control cannot be avoided now. But I think the issue will be settled in favor of binance.

Like any crypto enthusiast, I am for the CZ. After all, we all use Binance, the most expensive and the largest crypto exchange. It has a lot of excellent, reliable and honest financial instruments, including a great P2P, which I constantly use. This method is much faster than the usual withdrawal of money from the exchange.

Yes, the exchange has already include a KYC for a long time, but this is not a problem, this identity verification way has been introduced everywhere for a long time.
So in general, I am against SEC.

Well, because we invest and trade in crypto, or in essence, we are crypto market players, of course we will support anyone who stands for the good of the crypto market itself. And so far, CZ has actually helped fight Fud a lot. And the exchange that he built (Binance) is actually the most comfortable exchange that I have used. so of course I don't want the exchange that I often use to be exposed to bad things. If CZ loses, the max means that his Exchange will definitely be hit and will definitely create panic for the exchange users. Even though the SEC seems to be on the side of customer security. but I personally feel uncomfortable with the actions of the SEC which always corner crypto.

We can never be sure who serves what. We don't have to choose any side. The names that exist today did not exist 6-7-8 years ago. And the names that exist now may not be in a few years. We love crypto. We also love everyone who works for the good of crypto. So I don't care if someone makes a mistake or not. The only thing I'm interested in is the development of crypto.

There may be individuals or institutions that harm the progress of crypto. We see them from time to time. We also see people using crypto for their own benefit. What is good today may be bad tomorrow. That's why I don't support anyone. The only thing I support is Bitcoin.

Since a long time ago I really like the Binance market, so if you judge the two CEOs then I am more happy with the CEO of Binance who can always get the trust of every user, so both of them can now be relied on because the Coinbase market is also very many users and the popularity of both is indeed very large, although they have their own shortcomings but all can be solved well and this is always expected by every user, Although there are ongoing cases, all can be resolved if they want to resolve.

SEC is not as strong as we think how destroying cryptocurrencies after XRP success win against SEC and give positive side with current price of XRP going up drastically. As cryptocurrency holder or investor actually support with CZ how to defeat SEC and has chance to win after XRP success make SEC loss. Its important for CZ announce for defeating SEC because give positive reputation with cryptocurrency at the future and not give space left for SEC interfere in cryptocurrency.

I don't think SEC have capacity how to manage well cryptocurrency at the future because their reputation against with many kinds of altcoin, its time for CZ how to make SEC loss and never interfere their business in cryptocurrency.

CZ is not a saint but it seems there is a calculated attack against Binance  and it seems some powerful people wants to punished him for his role at the demise of FTX, this is the same SEC guys that were romancing SBF until the house of cards he built came crashing down. I hope Binance comes out of this unscratched, Ripple team has shown that SEC can be fought and be defeated.

I am sure that CZ has already plan something but I do hope they can win this case as well just like ripple, if they win this case expect that bnb will soar high again and people will more prefer to use binance. SEC should not be blamed for this since they are just doing their work unless they are cooking something or they just want to manipulate and regulate binance.

I agree with you OP, Binance has indeed done its part in making sure that all its users feel safe and secure when they use the platform. But at the same time, securities fraud blatantly expressed by one of their founders is no laughing matter too. And even though I hate SEC with every throbbing cell in my body I feel like they are in the right in this one. I don't promote the complete banning of Binance in the US though, at least monetary sanctions at most so people there could use the platform still but at the same time that's very unlikely considering the SEC's going bonkers on banning and barring every crypto-business out there for some reason. Still, time will tell whether Binance will prevail or not. For now we can only hope it sides with what's going to be in the best interest of the people.

Reflecting on the previous case with Ripple for example, I honestly doubt that this case will be resolved quickly because when dealing with the SEC, I don't know why I feel that no matter how small the problem is, it will eventually become bigger and like a hot fireball that attacks what is nearby to burn.
It is possible that this will happen, the case will be resolved but I think it will create a protracted situation whether it is months or years.
Even if you look at the current situation and see that Binance did make a Motion, you can speed up the case in court but in the end it's always the same thing with one case after another popping up.
Moreover, given the statement from former SEC official John Reed Stark that Binance's motion could trigger more upheaval, it's possible that this will be a long drama in the end.

As I am also from the crypto world and since Cz (Changpeng Zhao) is also the same, so, although his real purpose is still not clear to us, even though the Crypto industry is expanding because of him, that is why I also have a feeling of supporting him.
But we must remember that they are expanding the crypto industry not just to help crypto people, their own interests are involved here. It can also be said that the way they are getting bigger and the crypto market is very much centered on them and I think that's not good news to cryptocurrencies, Because the purpose of the invention of this cryptocurrency will gradually disappear as it becomes more like controlling the market conditions.In this case I would say, keep your eyes and ears open while trusting anything centralized.
And what to say about the SEC, I left them out because they are suing those involved in the crypto industry two days in a row, So there is no question of supporting them.

Well china and their "One country, two systems" has always been very confusing. Especially now when there shouldn't be 2 systems but china is apparently too afraid to bring full commnunism to hong kong. Or they have a time frame for that. It would probably cause mayhem of biblical scale to try to implement it right away.

I am guessing this could be a significant boost for the upcoming bull run. Not because XRP is excellent or anything like that. It will raise hopes that most of the other projects don't end up being securities either. I mean apparently SEC thought that Ripple was so obvious security that they kept fighting years in court for it. And if they lose THAT.. Well they would have to have pretty solid evidence for those others. SEC could even see that fighting in the court would be waste of taxpayers money and drop the whole issue.

We do really appreciate on what he had done and able to get those benefits and really that having the convenience specially on using up the platform that he had been able to make but im not really that getting shocked
that these places would really be coming into a point on which they would really be experiencing these legal issues and other complaints or on whatsoever things that would be thrown at them by the government
specially now that they have expanded too much or into a certain extent that it do really give out that some alerts into the government because we know that they dont really like on something that would really be
having that huge marketshare on certain industry and this is why now they are now making some issues?

Its not something new anymore and with these kind of shady acts and throwing up some issues is never been that something shocking because they are really that a fan on doing this kind of behavior.
Im not wondering if they wont really be winning up against SEC (hopefully not).

Yeah righ it little bit confusing mainland china ban related to bitcoin trading and mining but they still produce the miner  ;D but in the other hand they might tell hongkong to implement crypto are they gonna work or not if they work maybe the might lifting the ban and start the crypto in the mainland china aswell

tho they also created Central Bank Digital currency today

CZ is also not the most honest player, and besides, he has been cooperating with the SEC for a long time, I assume that, at the request of the relevant authorities, he provided the information they needed about users and their transactions, but still, in the end, he did quite a lot for the crypto industry. The SEC simply try slows down crypto industry, each time trying to invent some new accusations.

That actually the whole issue with CZ and this sec sue, the  sec has been know to target major crypto influencer that boost the whole system of crypto and cz binance is one of those big dog in the crypto community when its come to CEX, their goal of slowing down the crypto industry was felt as the time the actual case was filed all crypto was affect greatly including BTC suffered a major dip in the market and this always causes panic among investors which is not good for the Industry and I will definitely support CZ on this thats if am given a chance.

I am not a supporter of the SEC, after seeing the actions of this organization against cryptographic progress, I have been dissatisfied with how they handle their political affairs, technological advances are supposed to be innovations that contribute to the community and countries in their progress and digital currencies have demonstrated with facts that they comply with this task, so I do not see the point of so much controversy, on the other hand, the owner of Binance has supported these assets tooth and nail, so in part it could be said that if he is contributing by the rise of these coins….but despite the fact that both the SEC and CZ hold different points of view, neither meets the characteristics to support them, since despite the fact that CZ is in favor of cryptocurrencies, everything he does is done to get something in return, like all those who take advantage of the opportunity to practically earn through people who do work, almost like banks…so taking into account all of the above, I would definitely not take sides in this situation.

Cz performs its duties and the SEC carries out its duties and functions. Yes. Each in their own point of view. But there is something lacking in terms of handling even though everything needs a process. If there is something in terms of completion it will take years and there is no common ground. See the XRP case. from the beginning until now still not sure direction. win or lose. Lots of SEC delays. Will Binance do the same as XRP?

CZ is like us, can you resist the authorities when they want to arrest and interrogate you? Therefore, we cannot blame or criticize if CZ provides all user data to the SEC or government when they request it. Binance is just a business, and compliance with the law is inevitable.

I know both are for their own benefit, even if we enter the market for our own purposes, so don't criticize others without looking at yourself. But if we judge fairly, CZ or SEC, who has benefited the market over the years? By assessing those things, we will know who is worthy of our support even though we may not like both because it is all for personal gain, including ourselves.

What are they doing since FTX collapse if not for ass leaking and getting bribes in the corners, what did they do with Sam to date, there is absolutely nothing but silence and the court has been silent as well but they are trying to witch hunt Binance even when I know that they are not clean as they speak in the public but Sec must not take crypto personal, he is pained that he can't control Bitcoin and the sad true is that there is nothing he can do about it till dy kingdom dy com.

If trade by barter system was to be global today, they will say lots of criticism from traditional finance for the inflation they have set for countries since the early 80s, but they are just a tiny matter that people don't use anymore but the problems with traditional finance is that they think they are too perfect to govern the economy but at the end, inflation is doing everything the way it like, this is what Bitcoin fix and they must be ready to accept it, Sec must accept how crypto is designed, he doesn't speak for the world, he speaks just for the US because crypto doesn't end in United state.

Binance all the way. The SEC is just another corrupt government organisation who doesn't really give a crap about the common folk and just focus on catering to their higher-ups in some way or another.

On the other hand, Binance isn't some fairytale exchange either since they do have their own ulterior motives, but they are helping the common folk to a far greater extent when compared to the SEC.

This is why they deserve all the praise that they have been receiving in recent years.