{"id":20375,"date":"2023-07-29T12:11:01","date_gmt":"2023-07-29T12:11:01","guid":{"rendered":"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/"},"modified":"2023-07-29T12:11:03","modified_gmt":"2023-07-29T12:11:03","slug":"sec-binance-unite-against-eeons-lawsuit-intervention","status":"publish","type":"post","link":"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/","title":{"rendered":"SEC, Binance unite against Eeon\u2019s lawsuit intervention"},"content":{"rendered":"<div data-v-2649fa34=\"\">\n<p>The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity \u201cEeon,\u201d which has sought to intervene on behalf of customers in the SEC\u2019s case against the crypto exchange.<\/p>\n<p>According to the U.S. District Court for the District of Columbia, Binance and the SEC objected to Eeon\u2019s request to intervene in the lawsuit,\u00a0citing that it does not meet the necessary legal requirements for intervention and consent.<\/p>\n<p>The SEC claims that Eeon has a history of repeatedly unsuccessfully representing itself in court cases.<\/p>\n<figure><figcaption style=\"text-align: center;\"><em>Screenshot of\u00a0\u00a0<\/em>SEC\u2019s<em>\u00a0response to the intervention petition. Source: CourtListener<\/em><\/figcaption><\/figure>\n<p>The SEC also claims the Securities Exchange Act prohibits private litigants from intervening, making Eeon\u2019s request impermissible. The SEC also argues that Eeon\u2019s participation in the lawsuit would have no significant impact, as their claims align with those of the defendants and fail to meet the requirements for intervention. Additionally, the agency says Eeon\u2019s counterclaims are contradictory in nature.<\/p>\n<p>Binance provided three grounds for dismissing Eeon\u2019s petition: the lack of consent from the SEC, Eeon\u2019s failure to establish itself as a legitimate party of interest and its failure to meet the necessary legal requirements for intervention.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/07\/06035998-36ad-490e-b4dd-728d1113bd00.JPG\" alt=\"\" title=\"\"\/><figcaption style=\"text-align: center;\"><em>Screenshot of Binance\u2019s response to the intervention petition. Source: CourtListener<\/em><\/figcaption><\/figure>\n<p>Both the SEC and the defendants \u2014 Binance and its CEO Changpeng \u201cCZ\u201d Zhao\u00a0\u2014 are united in their opposition to any intervention by Eeon in the SEC\u2019s lawsuit against Binance and its CEO.<\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Hester Pierce strikes back against SEC crypto warning to accounting firms<\/em><\/strong><\/p>\n<p>Meanwhile, Binance has filed a motion to dismiss the lawsuit brought against it by the U.S. Commodity Futures Trading Commission (CFTC), arguing that the agency is attempting to regulate foreign individuals and corporations outside the U.S., going beyond the limits of its statutory jurisdiction. However, due to the court\u2019s extended deadlines for the submission of responses by both the CFTC and Binance, the dismissal process is expected to extend into 2024.<\/p>\n<p><strong><em>Magazine: <\/em><\/strong><strong><em>Crypto regulation: Does SEC Chair Gary Gensler have the final say?<\/em><\/strong><\/p>\n<p><template data-name=\"subscription_form\" data-type=\"law_decoded\"\/><\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity \u201cEeon,\u201d which has sought to intervene on behalf of customers in the SEC\u2019s case against the crypto exchange. According to the U.S. District Court for the District of Columbia, Binance and the SEC objected to Eeon\u2019s request to intervene [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":20376,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","om_disable_all_campaigns":false,"footnotes":""},"categories":[42],"tags":[],"class_list":["post-20375","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>SEC, Binance unite against Eeon\u2019s lawsuit intervention | NFT &amp; Crypto News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"SEC, Binance unite against Eeon\u2019s lawsuit intervention | NFT &amp; Crypto News\" \/>\n<meta property=\"og:description\" content=\"The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity \u201cEeon,\u201d which has sought to intervene on behalf of customers in the SEC\u2019s case against the crypto exchange. According to the U.S. District Court for the District of Columbia, Binance and the SEC objected to Eeon\u2019s request to intervene [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\" \/>\n<meta property=\"og:site_name\" content=\"NFT &amp; Crypto News\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-29T12:11:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-29T12:11:03+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/07\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvOGI1MTYxMDktMDliZC00NWZkLTg2ODgtMjg0NTgzYWE0ZGE0LmpwZw.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1160\" \/>\n\t<meta property=\"og:image:height\" content=\"773\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Staff\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Staff\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\"},\"author\":{\"name\":\"Staff\",\"@id\":\"https:\/\/nftandcrypto-news.com\/#\/schema\/person\/352194e8b0cb9ae3ad5480e201b5f792\"},\"headline\":\"SEC, Binance unite against Eeon\u2019s lawsuit intervention\",\"datePublished\":\"2023-07-29T12:11:01+00:00\",\"dateModified\":\"2023-07-29T12:11:03+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\"},\"wordCount\":352,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/nftandcrypto-news.com\/wp-content\/uploads\/2023\/07\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjMtMDcvOGI1MTYxMDktMDliZC00NWZkLTg2ODgtMjg0NTgzYWE0ZGE0LmpwZw.jpg\",\"articleSection\":[\"Crypto\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\",\"url\":\"https:\/\/nftandcrypto-news.com\/crypto\/sec-binance-unite-against-eeons-lawsuit-intervention\/\",\"name\":\"SEC, Binance unite against Eeon\u2019s lawsuit intervention | NFT &amp; 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