The Securities and Exchange Commission (SEC) has scored a major win in its ongoing legal battle with Binance, according to a former SEC official. The official, who spoke on condition of anonymity, said that the recent settlements between Binance and the Department of Justice (DOJ) and the Financial Crimes Enforcement Network (FinCEN) are a clear sign that the SEC is getting tough on crypto exchanges. The SEC is reportedly investigating Binance for possible violations of securities laws. The agency has not yet filed any charges against Binance, but the settlements with the DOJ and FinCEN suggest that the SEC is building a strong case against the exchange.