In the legal battle with the Securities and Exchange Commission (SEC), Binance has been granted an extension to respond to court orders. On September 26, the extension was approved by Judge Zia M. Faruqui of the U.S. District Court for the District of Columbia.
The SEC initiated the lawsuit back in August, targeting cryptocurrency exchange Binance Holdings Limited, its founder Changpeng Zhao, as well as two U.S.-based Binance entities, BAM Trading Services Inc. and BAM Management U.S. Holdings Inc. The SEC’s allegations revolve around the sale of digital asset securities without the necessary registration.
The extension primarily concerns BAM Trading and BAM Management, both of which sought more time to respond to two specific court orders.
The first order called on the defendants to explain why particular documents related to the SEC’s motion for discovery should remain sealed or redacted.
The second order demanded justifications for sealing documents linked to the SEC’s reply supporting its motion for discovery.
Following the approval, BAM Trading and BAM Management now have until September 27 to reply to these orders to show cause. Importantly, the SEC did not oppose the request for an extended deadline.
Additionally, BAM Trading and BAM Management jointly filed an unopposed motion to postpone a status conference scheduled for October 12.
This extension request is unique to these two entities and does not impact other aspects of the ongoing SEC lawsuit, which still encompasses all defendants involved.