A federal magistrate judge has denied the SEC’s request to gain immediate access to Binance.US’s software, asking the regulator to provide more specific requests for discovery. The United States Securities and Exchange Commission (SEC) has failed to win immediate access to Binance.US’s software in a Sept. 18 hearing, with the judge saying he isn’t “inclined…
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Binance’s attempt to prevent the U.S. Securities and Exchange Commission (SEC) from making public statements alleging that the crypto exchange mishandled U.S. customers’ assets has been denied by the judge overseeing its enforcement case. A former SEC head of internet enforcement warned that the motion may “prompt the criminal authorities to expedite whatever action, if…
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Binance.US has lodged its defense ahead of the June 13 hearing on whether its funds will be frozen. Binance.US has asked the court to deny the securities regulator’s proposed temporary restraining order against its assets, claiming that the move would “effectively end” its business. In a June 12 filing, Binance.US slammed the Securities and Exchange…
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Seismic shifts have been occurring in crypto this past week, with the United States Securities and Exchange Commission (SEC) leaning remarkably further into what some call its “regulation by enforcement” approach, as the entity is now suing both Binance and Coinbase for securities laws violations. In other news, crypto firm Robinhood has decided to delist…
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New details revealed in the SEC complaint could explain why Brian Brooks abruptly stepped down as CEO of Binance.US in 2021, a crypto lawyer suggests. The SEC’s latest complaint against Binance could point to why former Binance.US CEO Brian Brooks chose to step down in August 2021, only three months after his appointment. According to…
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Binance CEO Changpeng Zhao (CZ) has warned of “profound impacts” on the crypto industry if stablecoin Binance USD (BUSD) is ruled as a security. His warning followed an alleged lawsuit by the U.S. Securities and Exchange Commission (SEC) against Paxos, the issuer of Binance USD. Binance’s CEO on SEC Action Against Paxos and BUSD Following…
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