Binance Replies to the Court for SEC’s Requests: Logical and Burdensome!

Binance’s US subsidiary, Binance US, emphasized that there is still no evidence of the accusations against it, and described the SEC’s requests for testimony as unreasonable and burdensome.

In its file submitted to the court on September 12, Binance.US, the US subsidiary of Binance, the world’s largest cryptocurrency exchange, alleges misuse of customer assets, even though it has gone through an expedited discovery process for four months. no evidence found drew attention. The Exchange responded to the petitioner’s requests for testimony from the US Securities and Exchange Commission (SEC). illogical And burdensome He stated that it was.

Binance 13 June All client assets have been verified since the hearing on They present an accounting record showing and said that this document indicates their innocence.

Besides, the stock market SEC’s 5,000 discovery of more than one page of documents, 19 to question and Chief Information Security Officer Erik Kellogg Despite the statements of multiple employees, including that you couldn’t find any evidence he underlined.

In addition, Binance US is aware of the SEC’s current limits at the time of discovery. went out of And overly wide He said he followed a research attitude.

The burden associated with these affidavits outweighs their potential benefits, and the discovery requested is disproportionate to the needs set forth in the agreement provision.

Some confidential information in the case text censored was seen. Binance US and the SEC report confidential information to the court the day before an exchange is due to file. sealed They agreed on a decision to present it in some form.

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