SEC to Unseal Documents in Legal Case Against Binance US – Here's the Latest
In a major development, the United States Securities and Exchange Commission (SEC) is set to make public some confidential documents in its ongoing case against Binance US.
The release comes at the SEC's own request and with the consent of both parties involved in the case. This development adds another layer to the SEC's scrutiny of crypto regulation and its actions against Binance.
The legal tussle between the SEC and Binance US took an important turn today as District of Columbia District Court Magistrate Judge Zia Faruqui approved the SEC's motion to unseal certain documents. These documents, among other things, pertain to a "Motion to Compel and For Other Relief" and an "Opposition to Binance US’ Motion for a Protective Order."
Both parties agreed to the unsealing of many documents that the SEC had submitted last month. The next hearing for this case, presided over by Magistrate Judge Faruqui, is scheduled for September 18.
Judge Faruqui's order lists 18 sealed documents and another nine that are partially sealed or redacted. Binance US and any third party asserting confidentiality on these documents will have a seven-day window to argue against the unsealing. The SEC will then have another seven days to respond to these claims.
The specified documents were filed on August 28 and sparked discussions about their possible connection to a U.S.Department of Justice investigation of Binance. These partially sealed documents comprise 117 pages, including internal communications within Binance US, emails, and SEC court filings.
Not all sealed documents in the case against Binance US are part of this unsealing order. For instance, a proposed order filed by BAM, the holding company of Binance US, on September 11, was not
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