U.S. Judge Disputes SEC Access To Binance.US Software

Coinscreed
Coinscreed

19 Sep 2023 8:56 AM

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.

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You May Ask

What was the outcome of the SEC's request for quick access to Binance.US's software?Who has the SEC been pursuing a case against since June?What concerns does the SEC have regarding Binance.US's relationship with its service provider?What has been the SEC's experience with document production and deposition requests from Binance.US?What is the next step in the legal dispute between the SEC and Binance.US?

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