Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Reading: Binance US Legal Case: SEC to Unseal Documents
Share
Font ResizerAa
BlockcruxBlockcrux
Search
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Blockcrux
  • News
    • Blockchain
    • Regulations
    • AI
    • Scams
  • Crypto
    • Bitcoin
    • Ethereum
    • Altcoin
  • Web3
    • NFT
    • DeFi
  • Press Release
  • Learn
  • Contact
    • Advertising
    • Submit Press Release
Reading: Binance US Legal Case: SEC to Unseal Documents
Share
Follow US

Home - Binance US Legal Case: SEC to Unseal Documents

General NewsNewsRegulations

Binance US Legal Case: SEC to Unseal Documents

Mridul Srivastava
By Mridul Srivastava September 16, 2023 197 Views
Share
https://theblockopedia.com/core-scientific-enters-agreement-with-celsius-mining/
https://theblockopedia.com/core-scientific-enters-agreement-with-celsius-mining/
SHARE

The SEC is set to release confidential documents in its case against Binance US, raising regulatory questions amid the ongoing battle and potential DOJ investigation into the cryptocurrency exchange.

Contents
Binance US and the SEC Agree to Unseal DocumentsUnanswered Questions and Ongoing LitigationTo Sum it All Up….

  • The SEC plans to release confidential documents related to its case against Binance US with consent, adding to crypto regulation scrutiny.
  • Judge Zia Faruqui grants the SEC’s motion to unseal documents, including a “Motion to Compel” and an “Opposition to Binance US’ Protective Order.”
  • Binance US and third parties can argue against unsealing 18 sealed and nine partially redacted documents within seven days, followed by the SEC’s response.
  • The move raises questions about a potential DOJ investigation into Binance, highlighting the evolving regulatory landscape for cryptocurrencies in the United States.

In a major development, the United States Securities and Exchange Commission (SEC) is preparing to make public certain confidential documents pertaining to its ongoing case against Binance US. This release comes at the request of the SEC and with the consent of both parties involved in the case, adding another layer to the SEC’s scrutiny of crypto regulation and its actions against Binance.

Late night filing by SEC in Binance case mostly redacted and sealed but it looks like SEC fired back tons of evidence and testimony against some claim Binance has made. It’s a bit of a land slide compared to what we’ve seen so far.

Wonder if any correlation to weird Chinese OTC… pic.twitter.com/rq5oeXycdE

— Adam Cochran (adamscochran.eth) (@adamscochran) September 15, 2023

Binance US and the SEC Agree to Unseal Documents

The legal battle between the SEC and Binance US has reached a turning point as District of Columbia District Court Magistrate Judge Zia Faruqui has granted the SEC’s motion to unseal specific documents. These documents include a “Motion to Compel and For Other Relief” and an “Opposition to Binance US’ Motion for a Protective Order.”

Both the SEC and Binance US have agreed to the unsealing of several documents that were submitted by the SEC last month. The next hearing for this case, presided over by Magistrate Judge Faruqui, is scheduled for September 18.

Judge Faruqui’s order lists 18 sealed documents and nine partially sealed or redacted documents. Binance US and any third parties claiming confidentiality on these documents will have seven days to argue against the unsealing. The SEC will then have an additional seven days to respond to these claims.

The specified documents, which were filed on August 28, have sparked discussions about a potential U.S. Department of Justice investigation of Binance. These partially sealed documents consist of 117 pages, including internal communications within Binance US, emails, and SEC court filings.

Unanswered Questions and Ongoing Litigation

Not all sealed documents in the case against Binance US are included in the unsealing order. For example, a proposed order filed by BAM, the holding company of Binance US, on September 11, was not mentioned in the order. The proposed order, along with the SEC’s opposing document and eight other exhibits, remain sealed.

The initial SEC case against Binance US, the broader Binance entity, and CEO Changpeng Zhao was filed in June. The allegations revolve around operating unregistered securities and other questionable practices, including wash sales. In August, Binance US requested a protective order against the SEC.

This move by the SEC to unseal documents not only sheds light on its case against Binance US but also raises broader questions about the regulatory stance on crypto regulation. It is an ongoing area of focus for authorities, as they strive to strike a balance between embracing cryptocurrency and ensuring market integrity.

To Sum it All Up….

The actions taken by the SEC against Binance may play a significant role in shaping the regulation of crypto assets in the United States, serving as a precedent for how crypto entities navigate the complex landscape of U.S. regulations.

As both sides gear up for the next phase of the legal battle, the crypto community eagerly awaits further developments. While this release of documents may not provide all the answers, it does offer a clearer view of the SEC’s case against Binance US.

TAGGED:Binance USDocumentSEC
Share This Article
Facebook Twitter Email Print

PRESS RELEASE

PRDT Finance: The Remarkable Journey to the Top of the Decentralized Binary Options Landscape

Switcheo Labs Launches Fluo Finance: Revolutionizing Liquidity Provision for DeFi Users and DEXs
Ethereum Takes A Back Seat As Crypto Whales Bet That This $0.03846 Token Will Lead The Altcoin Bull Run 
Chedda Finance Collaborates with Thirdwave Labs for Enhanced Wallet Analytics and User Insights
Web Summit 2024: Hyperchains Break Down Blockchain Barriers

LATEST NEWS

Blockchain Life Forum 2024 in Dubai: find out how to make the most of the current Bull Run

Toby Toby April 1, 2024
Ship Technology Firm Sea Machines Developer of Autonomous boats , Raises $15 Million
Bitcoin ETF Nears Historic Launch, Targets $200K Amid SEC Decision
Bitget Commemorates Fifth Anniversary with Spectacular Events
How To Run React Native App
Blockcrux Logo blockcrux logo

About Blockcrux

Blockcrux is a web3 news publisher dedicated to delivering the latest, most accurate insights into blockchain and decentralized technologies. Covering everything from cryptocurrencies to NFTs and DeFi, it offers uncensored, real-time news, embodying the transparency and democracy inherent in the web3 ecosystem.

News

  • Blockchain
  • Crypto
  • Web3
  • AI

Help

  • Contact
  • Advertising
  • Submit Press Release
  • Privacy Policy

© Blockcrux News Network. All Rights Reserved.

Follow US on Socials

Welcome Back!

Sign in to your account

Username or Email Address
Password

Lost your password?

Last Updated on September 16, 2023 by Mridul Srivastava