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Binance and US SEC Collaborate for Mutual Legal Defense Amid Ongoing Lawsuit

Binance and US SEC Collaborate for Mutual Legal Defense Amid Ongoing Lawsuit

In the ongoing legal tussle between Binance and the U.S. Securities and Exchange Commission (SEC), both parties have jointly requested a protective order from the court.

This move aims to maintain privacy around certain details, following disputes over document sharing and disagreements over the dismissal of the case.

The decision to seek a protective order stems from a June 17 agreement intending to keep specific information confidential.

The joint request proposes the replacement of any prior orders issued by Judge Jackson with the current protective order. This development comes in the wake of disagreements and challenges in communication between the SEC and BinanceUS.

The SEC has raised concerns that BinanceUS has not adequately provided the requested documents, having submitted only 382 papers so far.

In accordance with the terms outlined in the June agreement, the SEC is seeking additional details. However, Binance US argues that the SEC’s post-September 18 hearing demands are overly stringent and run counter to the previous agreement.

Simultaneously, Binance is actively pursuing the dismissal of the lawsuit. Despite these efforts, the SEC remains steadfast in its commitment to regulating the cryptocurrency industry to safeguard investors.


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