The judge handling the Binance vs. SEC case couldn’t take it anymore. Instead of deciding in favor of any party, he asks the two protagonists to find common ground. The American regulator of the cryptocurrency market, however, asked that the court force the CZ crypto exchange to be more cooperative. Big plan !
In short
- Judge in SEC-Binance case calls for both parties to work together
- The United States Securities and Exchange Commission has nevertheless filed a request for a possible inspection into the “questionable” asset custody of Binance US.
Crypto lawsuit, towards an amicable settlement between Binance and the SEC?
Pro-crypto lawyer John E. Deaton was right when he predicted that this affair will certainly end in an arrangement between the SEC and Binance. Moreover, the judge has already ordered the two parties to establish a mutual agreement last June, while Gary Gensler wanted to freeze the crypto assets of Binance.US some time before.
“ The judge did not rule against the SEC or Binance US during Monday’s hearing, instead encouraging the two sides to work together, asking the SEC to narrow its request for information and for Binance to provide more information on the custody solution. »
L’CoinDesk article attached to this tweet highlights a absence of bias in Judge Zia Faruqui in charge of the Binance vs SEC case. In the columns of this crypto media, we learned that Mr. Faruqui ordered BinanceUS and the SEC to show restraint in their actions.
From now on, both parties will have to work together, so that “ things continue to move forward “.
The crypto exchange Binance, which sometimes tends to make a fool of the SEC, has an interest in satisfy the demands of the crypto regulator in the future. Even if it means sharing as much information as possible about Ceffu, the service provider of Binance US.
“ I think we need more information than we currently have. [Je] am super confident that BAM has full control of its assets », Specified Judge Faruqui.
Also, Gary Gensler and his team were called upon to reduce pressure on Binance regarding requests for data necessary for the advancement of the investigation. However, the American judge granted him certain privileges such as the deposits of shard holders making it possible to justify the security of BinanceUS funds.
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