In response to the SEC's lawsuit, Binance has issued a statement saying it will "strongly" resist regulatory pressure.
According to the company, it is cooperating with the SEC for a pre-trial resolution of the problem. However, according to the platform's representatives, the SEC's main objective is the unilateral determination of the cryptocurrency market structure."
Binance has said:
"The Commission has determined to regulate with the blunt weapons of enforcement and litigation rather than the thoughtful, nuanced approach demanded by this dynamic and complex technology."
The exchange has also denied the platform puts customer funds at risk.