U.S. Judge Disputes SEC Access To Binance.US Software
The SEC lost its lawsuit against Binance.US, the cryptocurrency trading platform. U.S. Magistrate Judge Zia Faruqui denied the SEC's request...
- The SEC's lawsuit against Binance.US, the cryptocurrency trading platform, has faced setbacks.
- U.S. Magistrate Judge Zia Faruqui denied the SEC's request for quick access to Binance.US's software.
- The SEC has been pursuing a case against Binance.US, Binance Holdings Ltd., and CEO Changpeng Zhao since June.
- The SEC has struggled to acquire essential information during the case.
- Judge Zia Faruqui has encouraged collaboration between both sides and advised the SEC to refine its information demands.
- The SEC has been granted permission to interview specific shareholders to assess the security of Binance.US's funds.
- One of the main concerns is whether Binance.US complies with an order to segregate U.S. customer funds from the global entity.
- Disagreements have arisen regarding document production and deposition requests.
- Judge Zia Faruqui's ruling is a temporary setback for the SEC.
- A hearing is scheduled for October 12, and a joint status report is expected by October 10.
The sentiment of the article is neutral, providing factual information about the SEC's lawsuit against Binance.US.