Binance beats the SEC to the punch for now

Greetings again my dear friends, I hope you are all very well, the Securities and Exchange Commission (SEC) of the United States, persists with its legal battle against the cryptocurrency exchange Binance and, so far the commission has not been able to verify the use of Binance international custody solutions through Binance.US. Therefore, the judge in charge of this legal confrontation, at the first opportunity rejected the option requested by the SEC to access the information of Binance.US systems.

This freezing of intention to access these systems by the SEC, has been temporarily postponed, all this in order that Changpeng Zhao, founder and CEO of Binance, can demonstrate the separation exposed by the Exchange between the custody solution between Binance. US and Binance International, we can say that the bitcoin market has responded positively to this decision, so its price managed to break again the resistance barrier of 27 thousand dollars, however, many specialists or traders wonder if this is due to leverage or simply to a genuine demand for spot purchase?

_{Image obtained from www.coingecko.com}

The truth is that we must wait until October 12 of this year, a follow-up hearing exposed by the magistrate judge in charge of this legal confrontation, so both parties should prepare until that date and present their best arguments in his defense, by Binance, or prosecution by the SEC, this can be translated as a setback for the SEC or, interpret it as a potential future risk for the Exchange.

Beyond, the alleged existence of evidence by the SEC, so far the SEC has not been able to clearly prove that Binance misleads the court and everyone, this dispute will continue in 3 weeks, therefore, we can say, that the expectations for the BTC bulls and the rest of the cryptocurrencies have improved and, Many traders say that the path of the BTC price towards 28 thousand dollars is clearer and then continue to recover the path towards 30 thousand dollars again.

Until another opportunity my dear friends.