{"id":156421,"date":"2023-09-15T12:29:47","date_gmt":"2023-09-15T06:59:47","guid":{"rendered":"https:\/\/dripp.zone\/news\/us-sec-agrees-to-unseal-confidential-docs-in-binance-lawsuit-crypto-news\/"},"modified":"2023-09-15T12:29:50","modified_gmt":"2023-09-15T06:59:50","slug":"us-sec-agrees-to-unseal-confidential-docs-in-binance-lawsuit-crypto-news","status":"publish","type":"post","link":"https:\/\/dripp.zone\/news\/us-sec-agrees-to-unseal-confidential-docs-in-binance-lawsuit-crypto-news\/","title":{"rendered":"US SEC Agrees To Unseal Confidential Docs In Binance Lawsuit – Crypto News"},"content":{"rendered":"

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The U.S. Securities and Exchange Commission (SEC) has filed a \u201cmotion to unseal<\/strong>\u201d to reveal the contents of confidential documents it filed last month that caused FUD<\/a> in the crypto industry. The protective order in the U.S. SEC v. Binance lawsuit<\/a> amid the exit of many executives from Binance and Binance.US have impacted investors\u2019 sentiment, as well as trading volumes on other exchanges.<\/p>\n

US SEC And Binance To Reveal Some Documents<\/h2>\n

Attorneys for the plaintiff the U.S. Securities and Exchange Commission (SEC) submitted a motion to unseal or withdraw its earlier motion to seal documents in the Binance lawsuit, according to a court filing on September 15.<\/p>\n

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In fact, both the US SEC<\/strong> and defendants Binance<\/strong> and Binance.US<\/strong> have agreed to unseal many documents filed last month by the SEC. This includes documents related to \u201cMotion to Compel and For Other Relief\u201d and \u201cOpposition to Binance.US\u2019 Motion for a Protective Order\u201d.<\/p>\n

\u201cThe SEC also does not oppose the sealing or partial sealing of certain documents designated as confidential by Defendants BAM Trading Services Inc. and BAM Management US Holdings Inc. (together, \u201cBAM\u201d), if they continue to request confidentiality,\u201d as per the filing.<\/p>\n

The SEC asserts that Binance.US filing sealed documents<\/a> to the court in response to the SEC\u2019s earlier request to file sealed documents has significantly delayed the case. Despite Binance.US (BAM) has submitted redacted versions of related filing, experts have raised concerns over it due to the importance of the case.<\/p>\n

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Binance and the SEC recommended some sealed documents for public disclosure. Whereas, some documents are put into the Disputed Documents category.<\/p>\n

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Also Read: Ex-Celsius Chief Pleads Guilty to Crypto Charges<\/a><\/strong><\/p>\n

Binance.US And SEC Next Hearing<\/h2>\n

Magistrate Judge Faruqui on Wednesday signed a minute order<\/a> in the lawsuit, scheduling the next hearing on September 18. Magistrate Judge Faruqui will hear the arguments of defendants on the motion for a protective order by BAM Management US Holdings and BAM Trading Services (Binance.US). Also, the arguments made by the SEC regarding opposition to protective order and motion to file documents under seal.<\/p>\n

Meanwhile, executives from Binance and Binance.US have exited<\/a> or planning to exit the firm amid layoffs and intense regulatory scrutiny.<\/p>\n

Also Read: Ethereum Daily Active Addresses Spike Above 1 Million, Is ETH Price Forming Bottom?<\/a><\/strong><\/p>\n

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