Binance dismisses the SEC lawsuit, claiming the regulator failed to meet the legal requirements for the suit.

Zhao, better known to Binance as “CZ,” filed a response with the SEC along with Binance.US. Binance.US separately filed a similar filing, arguing that the SEC failed to show that it had contracts that the exchange’s U.S. customers could satisfy. Whether the definition of ‘investment contract’ or other elements of Supreme Court precedent have been met.