Live Chat

Crypto News

Cryptocurrency News 1 years ago
ENTRESRUARPTDEFRZHHIIT

Binance.US Labels SEC's Requests "Unreasonable" and "Unduly Burdensome" in Response to Motion

Algoine News
Summary:
Binance.US responds to the SEC’s motion, calling the requests unreasonable and burdensome. Attorneys argue that the demands are overly broad and go beyond the consent order. They contest the allegations and question the involvement of their CEO and CFO. The response follows an agreement to file confidential information under seal.
Binance.US, the operator of the Binance.US cryptocurrency exchange, has submitted its response to the United States Securities and Exchange Commission (SEC), criticizing the SEC's requests as unreasonable and burdensome. In sealed documents filed on September 12, Binance.US's attorneys argued that the SEC's demands for additional details were overly broad and beyond the scope of the consent order. They also disputed the SEC's motion, stating that there is no evidence implicating the CEO and CFO in the day-to-day management of customer assets. The attorneys emphasized that the burden imposed by the depositions outweighs their potential benefit, and that the SEC's allegations are misleading. This response follows the agreement between the SEC and Binance to file confidential information under seal, limiting access to specific parties.

Published At

9/12/2023 8:25:40 AM

Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.

Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal? We appreciate your report.

Report

Fill up form below please

🚀 Algoine is in Public Beta! 🌐 We're working hard to perfect the platform, but please note that unforeseen glitches may arise during the testing stages. Your understanding and patience are appreciated. Explore at your own risk, and thank you for being part of our journey to redefine the Algo-Trading! 💡 #AlgoineBetaLaunch