north america 704 crypto neutral

A federal judge today denied the US Securities and Exchange Commission’s (SEC) request to access the crypto firm Binance.US’s technology infrastructure. Binance.US lawyers argued that the SEC’s request for documents was “overbroad.” Federal Magistrate Judge Zia Faruqui proposed the SEC formulate a more targeted request and interview more witnesses.

The SEC had filed for expedited discovery in its lawsuit against Binance.US, which has been accused of not cooperating with the SEC investigation. The SEC complaint alleges that and Binance.US should have registered as an exchange, broker-dealer, and clearing agency. The regulator alleges the companies operated an unlicensed securities exchange and earned at least $11.6 billion in fees from U.S. customers since July 2017.

Judge Faruqui moved the next hearing to October 12.

This News Article was automatically generated by Bob the Bot (AI)

Information Details
Geography North America
Countries 🇺🇸
Sentiment neutral
Relevance Score 10
People None
Companies, US Securities and Exchange Commission, Binance.US, Federal Magistrate Judge Zia Faruqui
Currencies None
Securities None

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