John Reed Stark and John E. Deaton do not share the same opinion on the case between Binance and the SEC. If the first, a former official of this Securities and Exchange Commission, predicts everything a lot of misfortunes faced with the request for authorization to deposit sealed documents in court by the American regulator, the other, a pro-crypto lawyer, clarified thata single move from Binance would harm this initiative. Let’s see Deaton’s explanations in the next few lines.
In short
- The Binance vs. SEC affair will have a favorable turn for the cryptocurrency giant in the event of opposition to the filing of confidential documents from the American regulator, maintains John E. Deaton
- The thesis of an agreement between the two opposing parties cannot be ruled out at the end of the standoff
Crypto exchange Binance better oppose SEC request
At a certain time, the US Department of Justice chose to be less aggressive against Binance. This could shake up the crypto industry as a whole. But the DOJ is not the only one that has a grudge against the CZ cryptocurrency exchange. The CFTC and the SEC have also already started to worry about this fintech of universal size. The cause: problems with irregularities.
Of all Binance’s detractors, the United States Securities and Exchange Commission seems the most motivated. What does she really want: end of exchange (and the entire crypto industry with it)? Or thebasis of clear regulations cryptocurrencies?
” As I have said on CryptoLaw US and other channels, it will be interesting to see if Binance opposes the SEC motion aimed at sealing certain documents (more than 30 pieces of evidence). Binance’s response could be indicative of the nature of the documents. »
Quincepe who took up this publication from John E. Deaton, a very big defender of the crypto industry, asked himself the following question: “ Will Binance oppose SEC request to seal documents? »?
In its development, the crypto press mentioned Deaton’s opinion stipulating that in the event of opposition to this request, Binance, the issuer of BNB, will weaken the SEC in court.
Victory of Binance and why victory of the crypto industry?
The US branch of this cryptocurrency giant has already filed its response to this SEC motion to file confidential documents and oppose the protective order.
As a reminder, John Reed Stark commented on this initiative by Gary Gensler’s team on August 29th. In his talk, this former SEC employee mentioned ” numerous pieces of evidencea Proposed Order and Statement by SEC Counsel Jennifer Farer “.
He clarified that the SEC rarely uses this type of request as part of a legal proceeding. In his eyes, there is only one motive: “ the SEC is likely linked to an existing DOJ investigation into Binance “. And he even went so far as to predict the imminence of an attack by the United States Department of Justice.
John Stark has argued on occasion, however, that the world’s most popular crypto exchange has two choices: whether or not to oppose this motion.
For John E. Deaton, the Binance affair could result in an agreement with the SEC. Moreover, the judge in charge of the case has already called on the two protagonists to find common ground in the story of freezing Binance.US assets.
We can also note, at this point, that the same pro-crypto lawyer Deaton has already predicted a victory for Binance and Coinbase against Gary Gensler’s SEC. An opinion he shares with Dave Nadig, a pioneer in the ETF industry. Why will this institution lose to the crypto giants? Grayscale Investments and Ripple have already humiliated the US financial policeman in court. So why won’t Coinbase and Binance make it?
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