Attorney Andrew Rhys Davies Supports Binance in SEC Lawsuit
Attorney Andrew Rhys Davies has filed a motion to appear pro hac vice in the Binance vs U.S. Securities and Exchange Commission (SEC) lawsuit. The lawyer has come in support of BAM Management US Holdings and BAM Trading (Binance.US). Binance.US seeks a protective order from the court in response to the SEC exceeding the agreed-upon consent order.
Main Breakdowns:
- Attorney Andrew Rhys Davies files a motion to appear pro hac vice in the Binance vs SEC lawsuit.
- He supports BAM Management US Holdings and BAM Trading.
- Judge Amy Jackson refers the protective order motion to Magistrate Judge Faruqui.
- Binance.US argues the SEC is exceeding the consent order and requests preclusion of depositions and rejection of irrelevant demands.
- Other crypto companies, such as Coinbase and Ripple, have filed motions to dismiss their lawsuits against the SEC and CFTC.
Former SEC Official Predicts Outcome
Former SEC chief John Reed Stark predicts that Judge Jackson will refer Binance’s motion for a protective order to Magistrate Judge Faruqui. Stark believes that the judge will order Binance to provide most of what the SEC requests, but may eliminate duplicative or overly broad requests. Stark also predicts that the DOJ will likely bring a lawsuit against Binance for violating US sanctions on Russia.
Hot Take
It seems that the battle between Binance and the SEC is intensifying. Attorney Andrew Rhys Davies joining in support of Binance.US shows the growing legal efforts to challenge the SEC’s actions. With other crypto companies filing motions to dismiss their lawsuits, it appears that the industry as a whole is fighting back against the SEC’s regulatory oversight. The outcome of this lawsuit and potential DOJ lawsuit will have significant implications for Binance and the digital asset industry as a whole.
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