Binance.US Facing Allegations of Withholding Information, SEC Claims in Latest Filing
The Securities and Exchange Commission (SEC) has accused Binance.US of failing to fully comply with its requests for customer information and other relevant details, according to a court filing made on Tuesday. The regulatory body alleged that Binance.US had not provided satisfactory proof that Binance global employees did not have access to the assets of U.S. customers. In response, Binance.US stated that it had answered all of the SEC’s questions and argued that further requests for discovery were beyond the scope of the consent order. Last year, the SEC sued Binance Holdings, BAM Trading Services, BAM Management U.S., and Binance founder Changpeng “CZ” Zhao, claiming that they were violating U.S. securities laws. The SEC’s lawsuit suggested that Binance.US customer assets might be controlled by Binance employees located outside of the United States. Both Binance and Binance.US have denied these allegations and have filed a motion to dismiss the case.