x

Binance Pursues Protective Order Against SEC Amidst Legal Clash

Crypto exchange Binance late on Monday filed for a protective court order against the U.S. Securities and Exchange Commission, saying the regulator’s requests for information were “over broad” and “unduly burdensome.”

BAM Trading, Binance U.S.’ operating company, and BAM Management in a court filing in the US District Court of Columbia said the group had already provided sufficient information to the regulator.

The protective order seeks to limit the SEC, among other things, to four depositions from BAM employees and to drop the deposition of BAM’s chief executive and of its chief financial officer, without naming anyone.

Binance did not immediately respond to a request for comment, while the SEC declined to comment.

U.S. regulators sued Binance and CEO Changpeng Zhao in June for allegedly operating a “web of deception,” listing 13 charges including claims the company artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S. customers from its platform and misled investors about its market surveillance controls.

“The SEC has still yet to identify any evidence suggesting that customer assets were misused or dissipated in any way,” the filing said.

The SEC has declined BAM’s proposals to meaningfully limit its requests and is opposed to the motion for a protective order, the filing said.

Hot this week

Editors Urge Government To Create Safe, Enabling Environment For Journalists

· Ask security agents to find missing Vanguard journalistAs...

EXCLUSIVE: Buhari orders probe of Isa Funtua, AMCON over keystone and Etisalat

Following the controversy generated by the leading opposition party,...

6 Signs your boyfriend thinks you are ugly -Take note of No. 2

They say there are three kinds of people; the...

2023: South-East, Middle Belt Forum Endorses Peter Obi

The South-East and Middle Belt Forum has endorsed the...

Wike employs 34 Resident Doctors for FCT Hospitals

By Joyce Remi-BabayejuThe FCT Minister Barr Nysome Wike has...

Why Uzor Arukwe Is Nollywood’s Hottest Star Right Now – Segun Arinze

Veteran Nollywood actor Segun Arinze has hailed his colleague...

Man gets life jail for setting ex-boss ablaze in Ekiti

An Ekiti State High Court in Ado Ekiti has...

Travellers Stranded in Taraba as Bridge Collapse Cuts Off Major Highway

Travellers and motorists in Taraba State have been left...

President Federation Cup Round of 32 Fixtures Revealed

The highly anticipated President Federation Cup Round of 32...

Kaduna Police Officer Threatens Retaliation Against Southerners Over Uromi Killings

Kaduna State police officer, Hadaina Hussaini Dan-Taki, has sparked...

BREAKING: Edo Tribunal Dismisses Action Alliance’s Petition Against Okpebholo, APC

The Edo State Governorship Election Petition Tribunal in Abuja...

Sterling Bank Stops Online Transfer Charges

Sterling Bank has announced the elimination of transfer fees...
spot_img

Related Articles

Popular Categories

spot_imgspot_img