Introduction
Lawyers for the cryptocurrency exchange Binance have made a claim that Gary Gensler, the Chair of the Securities and Exchange Commission (SEC), offered to serve as an advisor to the exchange. The claim was made in a letter sent by Binance lawyers to the SEC on August 25.
The Alleged Offer
According to the letter, Gensler allegedly made the offer during a meeting with Binance CEO Changpeng Zhao in 2018. The letter claims that Gensler expressed interest in Binance and the cryptocurrency industry, and offered his services as an advisor.
Response from the SEC
The SEC has not yet commented on the claim. However, the agency has been cracking down on the cryptocurrency industry in recent months, with a particular focus on exchanges like Binance. The agency has raised concerns over the lack of regulation in the industry and the potential for fraud and market manipulation.
Implications for Binance
If the claim made by Binance lawyers is true, it could have significant implications for the exchange. Gensler’s alleged offer to serve as an advisor could be seen as a conflict of interest, given his current role as SEC Chair. It could also raise questions about the relationship between Binance and the SEC.
Related?Coinbase CEO Responds to SEC Suit, Says Team Is Confident in Facts and Law
Conclusion
The claim made by Binance lawyers that Gary Gensler offered to serve as an advisor to the exchange has yet to be confirmed by the SEC. However, if true, it could have significant implications for the cryptocurrency industry and the relationship between Binance and the SEC.
