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Binance, the prominent cryptocurrency exchange, has taken a decisive step in response to the U.S. Commodity Futures Trading Commission's (CFTC) lawsuit. The company has filed a motion on Monday, seeking the court's dismissal of the legal action against them.

In March, the CFTC filed a lawsuit against Binance, along with its founder Changpeng Zhao and compliance officer Samuel Lim, in a U.S. court located in Illinois. The lawsuit accuses the exchange of running a derivatives trading platform within the United States and instructing its American employees to conceal their physical locations in order to bypass regulatory restrictions.

Binance faced legal action from the Securities and Exchange Commission (SEC) when the regulatory body sought a temporary restraining order on all funds held in Binance.US, the American subsidiary of the company. Referred to as a "death penalty" by a Binance.US attorney, the restraining order was ultimately not enforced. Instead, Binance.US and the SEC reached a resolution through a mutual agreement. According to the deal, the control of the branch's assets and servers would be exclusively overseen by its U.S.-based staff.

Since that time, perspectives regarding the U.S. regulatory landscape have undergone a change, as Ripple achieved a significant victory against the Securities and Exchange Commission in early July.

Binance is expected to submit its response to the CFTC's complaint later this week, precisely on July 27. While the details of their argument were not disclosed in the filing, it was mentioned that Binance is seeking permission to exceed the standard 15-page limit for their submission, citing the complexity of the case. In addition to this response, Lim, on behalf of Binance, plans to file a separate Motion to Dismiss as well.