The Expected Hearing in the Binance-SEC Case Held: Rejection of the Audit Request!

In the legal fight between Binance.US, the US subsidiary of Binance, the world’s largest cryptocurrency exchange, and the SEC, the judge said that this issue should be resolved together.

The expected hearing regarding the ongoing case between the US Securities and Exchange Commission (SEC) and Binance.US took place. SEC’s request to audit the stock market rejection response while coming Requests for further information were not blocked.

Shortly before the hearing, the SEC requested the court to audit the exchange, and Binance.US itself providing the requested documents about reluctant behaved and did things deliberately slow down he implied.

The SEC also noted that Binance.US hinders the provision of all information that could shed light on any allegations regarding the retention of customer assets. he had expressed.

In the application made by the SEC, Binance.US Ceffu A statement that will require the exchange to provide documentation regarding the organizations from which it receives wallet custody services and software support, a statement that refers to its possible relationship with court order He stated that he wanted. On the other hand, Ceffu denied any connection with Binance or its operations.

Regulator September 14He emphasized that by using Ceffu, the exchange may be violating the agreement to keep customer assets in the USA.

The two parties must work together

Judge leading the case Zia Faruqui At this point, at the hearing held on September 18, a not to decide He emphasized that they should work together for a solution.

I will not order here to produce or not produce (evidence) from the bench. Let’s try to solve this problem together.

Faruqui from SEC narrow down requests for information To understand whether Binance.US funds are safe when requesting Some stock exchange officials were also questioned allowed. However, the SEC’s request to examine the stock exchange was rejected.

At this point, the judge ruled that Binance.US’ assets storage And control While he said that the stock market should provide more information on assets, He’s not sure he has full control. he stated.

In addition, Binance.US has a mutually comparable date to be examined. general ledger He stated that he would create At the end of the case, the next hearing 12 October be done on and to October 10 An agreement was reached to submit a joint situation report.

Binance.US responded to the SEC’s requests for information in a court filing on September 12. “unreasonable and burdensome” he had described.

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