Victory for Binance, and corollary defeat for the SEC, or vice versa? Or agreement between the two parties? Regardless of its duration, its cost and its evolution, thecase pitting the world’s first crypto exchange against the American regulator will certainly end in one of these scenarios. The Securities and Exchange Commission is not in the habit of being easily defeated by any crypto company. As for Binance, its leader Changpeng Zhao has already promised to do what is necessary to make cryptocurrencies triumph.
In short
- Binance US lawyers objected to SEC’s request for undersealed filing
- Joint Motion (with SEC and Binance Holdings) Filed for Privacy Order in Lawsuit
Binance US opposes SEC motion on sealed documents
Was John E. Deaton heard by Binance’s lawyers yesterday when he proposed opposition to the SEC’s filing of confidential documents? Indeed lawyers of the most popular cryptocurrency exchange on the planet implemented his advice.
“ The SEC’s production requests and interrogatories are ‘overbroad’ and ‘unduly burdensome,’ Binance’s US lawyers said. »
The article attached by Cointelegraph to this tweet talks about a Binance.US qualification of SEC motion to file confidential documents in the dispute between them. The crypto media outlet also mentioned that today, lawyers for BAM Trading Services, the company behind Binance US, filed sealed documents with the court. Objective : object to SEC’s request for additional information regarding the American branch of Binance.
“ Too broad, unduly restrictive », « beyond the scope of the consent order », « unreasonable »… This request underwent a whole lot of qualifications from BAM’s lawyers.
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