Odaily News During the court hearing on the lawsuit between Binance and the U.S. Securities and Exchange Commission on Monday local time, Binance lawyer Matthew Gregory clearly pointed out that the U.S. Securities and Exchange Commission has never formulated clear regulations in the field of cryptocurrency. He said: So far, Until now, the SEC has used a two-pronged approach when it comes to cryptocurrencies, telling crypto industry practitioners to register but closing the door and preventing anyone from having a viable way to do so.”