The U.S. SEC Files Motion to File Documents Under Seal in Binance Lawsuit
The U.S. Securities and Exchange Commission (SEC) has taken a crucial step in its enforcement action against Binance. The SEC has filed a motion to file documents under seal in the ongoing lawsuit. This comes after Binance.US sought a protective order, claiming that the SEC had exceeded the agreed-upon consent order.
Key Points:
- The SEC has filed a sealed motion for leave to file documents under seal, keeping sensitive information off public record.
- 37 supportive submissions, including declarations and exhibits, have been filed alongside the SEC motion.
- The SEC filed 13 charges against Binance, Binance.US, and CEO Changpeng “CZ” Zhao.
- Binance.US filed a motion for a protective order, arguing that the SEC is exceeding the agreed-upon consent order.
- Judge Amy Berman Jackson has ordered mediation between Binance.US and the SEC.
Hot Take: The SEC’s motion to file documents under seal indicates that the enforcement action against Binance is intensifying. Binance’s attempt to seek dismissal of the lawsuits may face challenges, with experts predicting a potential lawsuit from the U.S. Department of Justice. The outcome of this legal battle will have significant implications for the crypto industry and the regulatory landscape.
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