John Reed Stark Reveals SEC Targets Binance

Binance crypto exchange. (Photo; Doc. Noticiacripto)

JAKARTA - Former head of Internet law enforcement from the United States Securities and Exchange Commission (SEC), John Reed Stark, said that the SEC filed a "secret" charge against Binance. He considered this a rare tactic. He linked it to the possibility of a criminal investigation by the Department of Justice against the crypto exchange. According to him, this step has an important meaning and should not be ignored.

In a lengthy post on social media platform, Stark, who is currently president of cybersecurity firm John Reed Stark Consulting, shared his views on the SEC's closed submission of Binance. He has had extensive experience in SEC law enforcement and has a background as law enforcement attorney for 15 years.

Stark explained that this "secret" filing means that court documents submitted by the SEC will not be publicly available, so sensitive or confidential information can be submitted to court without exposure to the public.

He highlighted that such actions are rare by the SEC because usually these institutions operate openly, but in this case, there may be information related to investigations carried out by the US Department of Justice against Binance.

Stark considers that this secret filing relates to allegations of money laundering and the potential for other crimes that have not been publicly announced. He noted that although Binance got the allegations, this move shows that the SEC has strong reasons for investigating crypto exchanges.