Court Says Yes To Binance Request In Case Against SEC – Crypto News – Crypto News
Connect with us

Blockchain

Court Says Yes To Binance Request In Case Against SEC – Crypto News

Published

3 years ago

on

In a new development in the ongoing case between crypto exchange Binance.US and the Security and Exchange Commission (SEC), the Court has approved Binance’s request for a new attorney. Following approval from Judge Amy Jackson, attorney Andrew Rhys Davies can now appear in court for Binance.US.

Approval From US Judge

According to a previous filing, attorney Andrew Rhys Davies had initially filed to represent Binance pro hac vice in the lawsuit. However, the federal judge had asked Davies to file a notice of appearance. 

In the latest filing details on August 30, Davies filed a notice of appearance for BAM Management US Holdings and BAM Trading Services – the company behind Binance.US. 

Granting the motion would mean Davies can now represent Binance in court pro hac vice, as the attorney is not licensed to practice in the jurisdiction. The pro hac vice is usually applied when an attorney who has not been admitted to practice in a certain jurisdiction can participate in a particular case in the jurisdiction. 

Davies’ addition to Binance’s legal team comes with years of experience in cross-border cases involving securities, banking, and financial regulation. 

“MINUTE ORDER granting 99 Motion for Leave of Andrew Rhys Davies to Appear Pro Hac Vice only upon condition that the lawyer admitted, or at least one member of the lawyer’s firm, undergo CM/ECF training, obtain a CM/ECF username and password, and agree to file papers electronically,” the court approval document read.

Binance Coin (BNB) price chart from Tradingview.com (SEC)

BNB ranging $224 as market recovers | Source: BNBUSDT on Tradingview.com

Details Of The SEC – Binance.US Lawsuit

The ongoing lawsuit between crypto exchange Binance and the SEC has dragged on for a while, with both parties filing different motions. In its latest move, the SEC filed a motion for leave to file documents under seal in the ongoing case. 

According to law experts, this could imply that the filing was made to protect details of a criminal investigation into Binance. Additionally, it could have also been filed to protect the safety or identity of a witness or company involved in the case.

Binance also previously filed a protective order motion against the SEC. Details of the court filing show that the exchange wanted relief from the regulators’ “fishing expedition” and requests for communications that have become “overboard.” 

However, Federal Judge Amy Jackson has since passed on the protective order motion to Magistrate Judge Faruqui. 

The crypto industry is closely watching how the SEC vs. Binance case unfolds as the outcome could set a precedent for how the regulator approaches the entire crypto industry.  

Featured image from Unsplash, chart from Tradingview.com

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending