While the effects of the lawsuit filed by the US Securities and Exchange Commission against Binance remained warm in the cryptocurrency markets and news feed, a different request came from Binance’s lawyers.
Binance’s lawyers demanded that SEC Chairman Gary Gensler be removed from the case in their requests submitted to the court after the lawsuit filed by the SEC.
Binance’s lawyers stated that Gensler applied to work as a consultant at Binance before he became the head of the SEC, and that Gensler saw no harm in working with the CEO of Binance as an unofficial consultant, which was confirmed by some documents submitted to the court by the SEC.
According to documents submitted by the attorney, Binance advisor, Binance CEO Changpeng Zhao, and Gary Gensler had a face-to-face lunch in Japan in March 2019, where they discussed the BNB token and the idea for Binance to open an exchange in the US.
Binance’s attorney stated that for these reasons, Gary Gensler should be removed from the lawsuit and any decision-making process related to Binance. The conflict of interest here warrants Gensler’s withdrawal, the Binance attorney wrote, given that Gensler is a possible witness to those consulting periods.
Gensler allegedly forwarded a copy of his 2019 statement before the Financial Services Committee to Zhao for advice.
Lawyers said it has not yet been confirmed whether Gensler will withdraw from the case.
The first trump cards in the lawsuit between Binance and SEC will be shared on June 13. In this first hearing, the SEC’s request to freeze the assets of Binance US will be decided.
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