SEC sees temporary setback in request to access Binance.US software
Cointelegraph
19 Sep 2023 12:27 AM
The SEC has failed to convince a federal magistrate judge that it should be allowed immediate access to Binance.US's software and other documentation, marking its first partial setback in its ongoing case against the crypto exchange. ...
- The United States Securities and Exchange Commission (SEC) has been denied immediate access to Binance.US's software in a recent hearing.
- The judge suggested that the SEC should provide more specific requests for discovery and speak with a broader range of witnesses.
- The SEC has accused Binance.US of noncooperation in the investigation, claiming that the company has produced unintelligible documents and refused to produce essential witnesses.
- Binance has argued that the SEC's requests for discovery are burdensome.
- The denial of immediate access to Binance.US's software is a setback for the SEC in its case against the exchange.
The sentiment of the article is negative towards the SEC's inability to gain immediate access to Binance.US's software and the ongoing dispute between the two parties.
You May Ask
What was the outcome of the Sept. 18 hearing regarding the SEC's access to Binance.US's software?What suggestion did Judge Faruqui make to the SEC during the hearing?What accusations has the SEC made against Binance.US in the investigation?How has Binance responded to the SEC's requests for discovery?What is the significance of the denial of immediate access to Binance.US's software for the SEC's case against the exchange?