Oh no, it’s not over yet! The case between Binance and the SEC seems far from seeing the end of the tunnel. However, it appears that BAM Trading and BAM Management, two entities of the crypto company have been granted an extension to respond to the court orders.
Binance vs SEC, an extension to better counterattack?
The SEC is not done with Binance yet. Despite the fact that the crypto exchange platform is the largest in the world, the regulator does not budge. However, it could be that society is really playing havoc with the body. After going through all the phases, between wars and negotiations, the crypto exchange now obtains an extension to respond to court orders.
Note that since August, the Securities and Exchange Commission has been in court against Binance Holdings Limited and Changpeng Zhao, often called CZ. The complaint also extends to two entities of the crypto company based in the United States, BAM Trading and BAM Management.
As part of this trial, Judge M. Faruqui approved on September 26 a request from the two entities to answer legal questions. As a result, they now have until September 27 to justify their actions. In fact, they must respond to two orders before the court.
To begin with, why did they seal the documents related to the SEC’s motion to compel discovery? Then, they must explain the sealing of the documents containing the regulator’s response, highlighting its allegations.
The lawsuit between the regulator and the exchange continues despite everything
The court’s approval of the extension does not pause the trial. Even if the SEC is not opposed to their request, that does not mean it is ready to let everything slide. Moreover, this cannot be possible, since the case concerns all the defenders. Notably Binance, Changpeng Zhao and the two American entities, but only the latter requested a delay.
As the regulator is known for his tenacity, everything suggests that he will not let this happen. Its lawsuit against Ripple bears witness to this. Taking into account that CZ’s company has a strong market share in the crypto ecosystem, this catch is too good to pass up.
However, we also have to ask ourselves what the two companies owned by Binance are up to. If one thing is certain, it is that CZ is a fine strategist and nothing is ever done at random. What does this extension have in store for us and what impact will it have on the crypto sector?
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