Judge Amy Berman Jackson denied Binance’s motion against the U.S. Securities and Exchange Commission (SEC) in a case where the SEC charged Binance, CEO Changpeng Zhao, and Binance US with securities law violations. Binance had filed the motion to prevent the SEC from making public statements alleging mishandling of assets by Binance and Zhao. The exchange argued that the SEC provided no evidence of commingling allegations and expressed concerns about prejudicing the jury. Binance urged the judge to enforce a professional conduct rule that prohibits misleading extrajudicial statements. However, Judge Jackson denied the motion, stating that court intervention was unnecessary and that the SEC’s public relations efforts would not significantly affect the proceedings.
Former SEC official John Reed Stark commented on the judge’s decision, calling Binance’s motion “provocative” and questioning its worthiness. He speculated that the motion may prompt criminal authorities to expedite any action against Binance.
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