This development comes amid increased regulatory scrutiny and actions against Binance by U.S. regulators, particularly the Securities and Exchange Commission (SEC). Binance's CEO, Changpeng Zhao (CZ), has criticized the regulators for their actions against Binance and its U.S. subsidiary. The SEC has accused Binance. US of failing to cooperate with a consent order in an ongoing lawsuit. The exchange claims that the SEC's recent requests are unreasonable. This situation underscores the challenges faced by crypto exchanges operating in the United States, as regulators seek to enforce compliance with financial regulations.