JAKARTA - Kendall Day, a former US Justice Department prosecutor, has been appointed by the Binance crypto exchange to help deal with demands filed by the US Securities and Exchange Commission (SEC). Kendall Day, who is currently a partner at Gibson Dunn & Curtcher's attorney's office in Washington DC, will be Binance's legal adviser in the case.
In his career at the US Department of Justice, Kendall Day served as head of the Money Laundering and Asset Recovery. He has 15 years of experience in tackling money laundering cases, suspended prosecution agreements, and non-prosecution agreements involving financial institutions.
SEC's legal action against Binance, its CEOs Changpeng Zhao, and Binance.US, is based on alleged violations in the handling of customer funds, attracting investors and regulators, as well as violating securities rules. The SEC also requested the return of cryptocurrencies owned by customers in the United States.
Binance has been in the spotlight of various US agencies, including the Department of Justice. In response to the SEC's demands, Binance.US has reached an agreement that has stopped Binance Global officials from accessing customer funds. This was announced by Binance CEO Changpeng Zhao, via his Twitter account on June 17.
Kendall Day, with her background as a former US Justice Department prosecutor, is expected to provide Binance with valuable experience and knowledge in dealing with the case. Binance and Kendall Day are ready to continue legal battles with the SEC and fight for the company's interests in the upcoming trial.
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