Binance vs SEC :Court Declines SEC's Request to Inspect Binance.US, How Will SEC React?
In the ongoing case on Tuesday the SEC faced a temporary setback as a federal magistrate judge rejected its plea for immediate access to Binance.US’s...
- The SEC faced a setback as a federal magistrate judge rejected its plea for immediate access to Binance.US's software.
- Judge Faruqui suggested the SEC make its discovery requests more specific and include more witnesses.
- The SEC claimed that Binance.US sold unregistered securities to American clients and accused the company of non-cooperation.
- Binance countered the SEC's accusations, stating that they have answered every specific request but criticized the government's unreasonable document requests.
- The denial of immediate access to Binance.US's software and documentation is a partial setback for the SEC.
- Binance.US has faced challenges since the SEC filed its complaint, including losing banking support and halting trading for over 100 token pairs.
The article primarily focuses on the ongoing legal battle between the SEC and Binance.US. It highlights a setback for the SEC as a judge rejects their plea for immediate access to Binance.US's software. The sentiment is neutral, providing information about the case and the arguments from both sides.