Former U.S. Securities and Exchange Commission (SEC) Internet Enforcement Director John Reed Stark tweeted that the U.S. Securities and Exchange Commission opposed Binance’s motion to dismiss.

The U.S. SEC is opposing Binance.US and Binance and CEO Changpeng Zhao “CZ”’s latest request to dismiss the lawsuit, court documents show. The SEC also asked Judge Amy Berman Jackson to sign a proposed order in favor of the regulator. The U.S. Securities and Exchange Commission (SEC) continues to argue in its lawsuit that it violated security laws and committed fraud because it violated the Howey test and securities conduct rules under investment contracts, including illegally listing unregistered securities in the form of cryptocurrencies.