US SECURITIES and Exchange commission keeps hawks eye in terms of violation of its rules within the borders. It has already conflicts with crypto exchanges regarding the law impeachment and hidden transfer of assets. 

A dramatic decline in Crypto market noticed today after a legal notice to Binance and it's CEO on allegations about transferring the funds of costumers to its own deep pockets and off shore accounts. 

Although Binance also released a press note that they are ready to face SEC in court with full power. According to statement they are going to file petition against SEC on damaging the brand value illegally and illogically. The statement from Binance says that we will respond SEC's commingled fake news.

But !!!!

What impact seen on market that it crashing by 6% within a hour of new day in USA. Bitcoin and other major players feeling convulsions over situation in Binance. Investment paused and people looking the sceneries. BTC dropped by 5.5% and now trading around $25700 which is lowest in last 60 days.

Further more the chairman of SEC has been standing clearly with his statement and may CZ of Binance will quit soon. Because Media Reports Circulating That Binance  Will Replace Cz_binance With Richard Teng As CEO Due tO Regulatory Woes. But initial response from CZ is encouraging. He stays calm and tweet,

Let's see the real world in court judgment but currently the convulsions over crypto are thick and foggy which may lead further declining in coming days. 

Is it another opportunity to buy BTC, BCH before the pumping season of halving soon? What you say . 

Cheers,

Amjad.