Coinspeaker
Binance Counters SEC’s Discovery Requests by Seeking Protective Order
Binance has filed for the court to grant it a protective order against the United States Securities and Exchange Commission. This follows after the financial regulator has made several attempts to lay its hands on all of Binance’s documents that may have anything to do with customer assets.
Binance Takes Issues with SEC’s Multiple Requests
According to the August 14 filing, Binance suggested that the regulator’s requests are more like undertaking a “fishing expedition”.
Recall that in June, Binance agreed to a Consent Order with the SEC. This was after the regulator initially attempted to freeze all of its assets, citing concerns over the safety of customer funds.
The exchange now believes that, while it has worked tirelessly in line with that same order, the SEC may have misunderstood the essence of it in the first place. Part of the filing reads:
“BAM has worked in good faith, but the SEC
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