SEC Escalates Battle With Binance.US As The Agency Requests Court

The U.S. Securities and Exchange Commission (SEC) remains resolute in its pursuit of action against Binance.US, intensifying the accusations it has previously leveled at the cryptocurrency exchange, CoinDesk first reported the news. In a recent court filing, the SEC petitioned a Washington D.C. court to grant access for an investigation into Binance.US, reinforcing prior claims that the company had not cooperated fully by failing to produce requested documents during ongoing legal proceedings. The SEC hasn’t limited its scrutiny to Binance alone. Another major player in the cryptocurrency sphere, Coinbase, has also faced allegations from the SEC. The agency accused Coinbase of jeopardizing customers by operating as an unregistered broker, exchange, and clearing agency. Binance.US has repeatedly voiced its discontent, describing the SEC’s demands for more information and testimony from its executives as “unduly burdensome.” Furthermore, Binance.US asserts that the SEC has yet to prove that customer funds were unlawfully diverted. The SEC’s latest gripe centers on Binance.US’s perceived lack of cooperation in the ongoing investigation, citing Binance.US’s holding company, BAM, has submitted a mere 220 documents during the discovery phase. It claims that many of these documents are unintelligible screenshots and lack proper dates or signatures.