Categories: News

SEC Gains Access To Sealed Documents In Binance.US Lawsuit

Key Points:

  • A judge approves the SEC’s request to unseal documents in Binance.US lawsuit, exposing the legal battle’s details.
  • The commission accuses Binance.US of violating a consent order by failing to separate assets, systems, and teams from Binance.
  • Binance.US defends itself, seeking a protective order to limit sensitive information disclosure.
In a recent development, a judge has granted approval for the U.S. Securities and Exchange Commission (SEC) to unseal previously confidential documents in the ongoing lawsuit against Binance.US, the American subsidiary of the global cryptocurrency exchange, Binance.
SEC Gains Access To Sealed Documents In Binance.US Lawsuit 2

The SEC initiated legal action against Binance.US, accusing it of violating a consent order issued in the past. At the heart of the matter lies the alleged failure of Binance.US to comply with the consent order’s terms, particularly regarding the separation of assets, systems, and teams from its parent company, Binance.

The commission has expressed concerns about the lack of cooperation from BAM Management and BAM Trading, the entities behind Binance.US. It argues that Ceffu, formerly known as Binance Custody, continues to act as the custodian for both Binance and Binance.US, a violation of the consent order that led to legal action.

Binance.US has vigorously defended itself, claiming that the SEC’s requests are overly broad and burdensome. To protect sensitive information during the lawsuit, Binance.US has sought a protective order, aiming to limit the disclosure of certain confidential and proprietary data.

Previously, the agency filed a “motion to unseal,” revealing confidential documents. Both parties have also agreed to make specific documents public, particularly those related to the SEC’s motion to compel discovery requests.

This legal battle between the SEC and Binance.US continues to unfold, with the unsealing of documents shedding light on the intricacies of the case.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Harold

With a passion for untangling the complexities of the financial world, I've spent over four years in financial journalism, covering everything from traditional equities to the cutting edge of venture capital. "The financial markets are a fascinating puzzle," I often say, "and I love helping people make sense of them." That's what drives me to bring clear and insightful financial journalism to the readers of Coincu.

Recent Posts

Bitcoin Trader Turned $100M in His 20s—Now Reveals 5 Altcoins to Build a $50M Portfolio, With Memecoins Leading the Way!

As Bitcoin reaches unprecedented heights and the market surges, he's highlighting five altcoins poised for…

1 hour ago

Which Crypto Will Explode in the 2024-2025 Bull Run?

With the crypto market reaching new peaks, many are eager to discover digital currencies poised…

1 hour ago

Dogecoin and Shiba Inu Approach $1, but All Eyes Are on XYZVerse’s Push to $10!

XYZVerse, blending sports passion with meme energy, is set to make a significant impact, uniting…

2 hours ago

Will Bitcoin Crash or Soar Past $105K in 2024?

Will Bitcoin Crash?" seems to be one of the most controversial questions, as the price…

3 hours ago

The Best Crypto for Passive Income? 10% Weekly Gains and 20% Final Surge—Qubetics Mirrors Cosmos’ Early Success!

There’s always that one coin people wish they hadn’t overlooked. For many, Cosmos ($ATOM) is…

3 hours ago

Cosmos Developer Interchain Foundation Sold 3000 ETH Today

Cosmos Developer Interchain Foundation sold 3000 ETH from its ICO today, totaling 21,600 ETH sold…

4 hours ago

This website uses cookies.