The post Binance Labels SEC’s Deposition Request as ‘Excessive’ and ‘Unreasonable’ appeared first on Coinpedia Fintech News
Binance.US (BAM) has responded to the Securities and Exchange Commission’s (SEC) requests for depositions and further discovery with a strong assertion that the SEC’s demands lack concrete evidence to support their allegations of misappropriated investor assets. The exchange characterizes the SEC’s pursuit as excessive and devoid of factual basis.
Background on SEC Investigation:
The SEC had accused Binance CEO Changpeng ‘CZ’ Zhao and Guangying ‘Helina’ Chen of improper actions involving customer funds. However, both Binance and CZ vehemently denied these allegations. A U.S. judge denied the SEC’s initial request for an asset freeze on Binance.US, instead mandating negotiations between the parties regarding ongoing operations.
Binance.US Defends Custody and Control:
Joint MOTION for Protective Order Concerning Confidential Information by
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