Binance has requested that SEC Chairman Gary Gensler withdraw himself from the SEC’s case against the exchange twice, first in February and again earlier this month.
New court documents from Binance’s legal team restate their earlier arguments that US Securities and Exchange Commission head Gary Gensler should recuse himself from the agency’s action against Binance since he had interviewed for a position at the exchange under investigation.
In a letter to the SEC dated June 4, 2023, the company claimed that it first brought up the issues in February of that year.
Before his government job, Binance said Gensler volunteered to work as an adviser for the company. He also had lunch with Binance CEO Changpeng Zhao in Japan in March 2019 to talk about the exchange’s native cryptocurrency BNB and the possibility of opening a branch of the business in the United States.
According to the report, Gensler kept in touch with Zhao, who considered him an informal counsellor. Subsequently, Gensler of the MIT cryptocurrency course had an interview with Zhao. According to the conversation log, Gensler also provided Zhao with a preview of his statement before testifying before the House Financial Services Committee in 2019.
The back-and-forth has led some to believe the chairman should step down at this point. The trading platform maintains that the SEC must still respond to these confirmations. Gensler has stated that he does not consult for any cryptocurrency trading platform.
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