SEC and Binance Seek Protective Order for Confidential Information
The U.S. Securities and Exchange Commission (SEC) and defendants Binance Holdings and Binance.US have jointly filed a motion for a protective order in their ongoing litigation. The purpose of the order is to govern the treatment and disclosure of confidential information during the case. Both parties agree that discovery material, which may include financial information and nonpublic business plans, should remain confidential. This is likely related to the SEC’s request for Binance.US to submit a financial report and provide other details. In response, Binance.US has filed sealed documents opposing the SEC’s demands and supporting its position in the lawsuit. The company denies any wrongdoing such as commingling of funds or diverting customer assets.
Hot Take: Binance Continues to Defend Itself Against SEC
Binance and its subsidiary Binance.US are taking a firm stance against the SEC’s allegations in the ongoing litigation. By filing a motion for a protective order and opposing the SEC’s demands for additional information, Binance is actively defending its position. The company denies any wrongdoing and maintains that there is no evidence of commingling of funds or control of Binance.US by its CEO. This legal battle between Binance and the SEC will likely be closely watched by the crypto community, as it could have significant implications for the regulatory environment surrounding cryptocurrencies in the United States.
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