The American division of the bitcoin exchange Binance hired an ex-employee of the law enforcement department SEC George Kanellos. Writes about it Bloomberg.
According to journalists, he moved to a branch from Milbank LLP along with three lawyers. The specialist left the Commission in 2014 after more than four years in various senior positions, and also headed the Serious Crime Unit at the US Attorney’s Office for the Southern District of New York.
John Reed Stark, former head of the SEC’s Internet Enforcement Office, said Binance is “clearly preparing for criminal prosecution.”
Binance and CZ just added a uniquely qualified criminal defense all-star lawyer to their legal team: George Canellos, former Chief of the Major Crimes Unit in the US Attorney’s Office for the Southern District of New York and former head of the SEC’s New… pic.twitter.com/lQlkZ6oxYc
— John Reed Stark (@JohnReedStark) June 12, 2023
“But I doubt that even Iron Man, Captain America and the Hulk will be able to pull Binance out of their current dangerous legal quagmire,” the specialist added.
On June 5, 2023, the SEC sued the bitcoin exchange and its CEO, Changpeng Zhao. The regulator brought 13 charges, including the sale of unregistered securities. The Commission later filed a similar lawsuit against Coinbase.
In response, Binance released a statement declaring its readiness to “resolutely defend itself.”
Recall that the US branch of the exchange challenged the SEC’s emergency request for an asset freeze, calling it “draconian and overly burdensome.”
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