The United States Securities and Exchange Commission (SEC) has filed a complaint against Binance, attempting to unilaterally define the structure of the crypto market. Although Binance actively cooperated with the investigation and conducted friendly discussions, the SEC chose to take unilateral action and file a lawsuit. This action is considered a lack of thoughtful and meticulous regulatory methods, and may weaken the United States' position as the center of global financial leadership. Binance will work with industry partners to protect this important technology from misleading litigation and continue to strive to provide users with a safe and reliable platform.