A new development has emerged in the legal dispute between Binance and the US Securities and Exchange Commission.
The June consent decree contains secret data that are the subject of a joint application for a protective order filed by the parties, Binance.US, and CEO Changpeng “CZ” Zhao.
Joint Protective Order Motion from Binance and the US SEC
Binance and the U.S. SEC jointly filed a court motion late on November 13th, asking for a protective injunction over the June consent decree. The purpose of this motion is to create rules that the court has authorised regarding the handling and disclosure of private information throughout the course of the ongoing litigation.
Any regulation pertaining to confidentiality should take precedence over the one established by Judge Jackson in September as a result of this motion.
Binance and SEC Disputes: What’s Likely Happening Behind Closed Doors,Binance and SEC Disputes: What’s Likely Happening Behind Closed Doors
A recent disagreement about document discovery and depositions between the SEC and Binance.US is what prompted the combined move. As stated in the consent order, the SEC asserts that BinanceUS has only supplied about 382 documents and is reluctant to reveal its position on delivering the remaining papers.
However, BinanceUS argues that the SEC’s demands are irrational in light of the September 18 hearing. The exchange contends that the consent order’s provisions are not adhered to by the SEC’s methodology.
Binance’s Request for Lawsuit Dismissal Rejected by SEC
Concurrently, the U.S. SEC is against Binance’s most recent initiatives.US, CEO Changpeng “CZ” Zhao of Binance, and Binance to drop the complaint.
Citing investor protection provided by current securities rules, the SEC is steadfast in its determination to regulate the cryptocurrency sector.
The cryptocurrency community is beginning to believe that litigation, such as those against Coinbase and Ripple, need to be dropped as the court case develops.
The SEC’s arguments are questioned by those who feel that the agency has not provided enough justification for how the regulations as they stand relate to their assertions.
Binance and SEC Disputes: What’s Likely Happening Behind Closed Doors,Binance and SEC Disputes: What’s Likely Happening Behind Closed Doors,Binance and SEC Disputes: What’s Likely Happening Behind Closed Doors , Binance coin Crypto news, Binance coin News