U.S. court rejects SEC’s plea to inspect Binance U.S. documents
AMBCrypto
19 Sep 2023 2:00 AM
On 18 September, a U.S. court denied the SEC's request to look into Binance U.S. The crypto exchange stood firm on its stance calling the regulatory watchdog's request ...
- The U.S. District Judge rejected the SEC's request for an inspection of Binance U.S. documents.
- The request was related to access to documentation and communication with its custodial service providers.
- Binance U.S. successfully held its stance against the SEC's plea.
- The SEC claimed that the custody platform Ceffu was a Binance-related entity used to move U.S. customers' funds out of the country.
- The court rejected the SEC's request but asked Binance U.S. to provide more documentation.
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What was the outcome of the SEC's request for an inspection of Binance U.S. documents?What was the basis of the SEC's case against Binance U.S.?Why did the court reject the SEC's request?What did the court ask Binance U.S. to do despite rejecting the SEC's request?What is the significance of the custody platform Ceffu in the case?