Binance.US, the U.S. entity of crypto trade Binance, has added 4 legal professionals from Milbank LLP to its authorized group together with George Canellos, a former co-director of the Safety and Trade Fee’s enforcement division.
Canellos oversaw about 1,300 attorneys on the SEC and was additionally chief of the main crimes unit on the U.S. Lawyer’s Workplace within the Southern District of New York, Bloomberg Information reported. The transfer got here because the crypto trade faces a lawsuit filed in opposition to it final week by the regulator.
“Binance is clearly getting ready for a felony prosecution and persevering with to rent one of the best protection attorneys on the earth,” John Reed Stark, a former SEC Workplace of Web Enforcement Chief, said on Twitter.
Different Milbank legal professionals added to the group embody Adam Price, Matthew Laroche and Andrew LeBlanc. The agency did not instantly reply to a request for remark from The Block.
In a June 5 lawsuit, the SEC alleged main malfeasance and authorized violations that it argues ought to end in prohibiting the corporate from doing additional enterprise within the nation.
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