A US judge dismissed BinanceUS’ objection to the SEC press release.
The litigation between BinanceUS and the SEC does not stand still. BinanceUS’ objection to the SEC’s press release was dismissed by the judge.
BinanceUS’ Application Regarding SEC Disclosure Rejected
BinanceUS has filed a complaint for making “misleading” public statements about the US Securities and Exchange Commission’s (SEC) handling of client funds. However, a federal judge denied Binance’s request for this restriction.
DC District Court Judge Amy Berman Jackson dismissed the allegations, stating that the court’s job was not to regulate public statements by the parties to the case. Judge Jackson stated that there is no need for the intervention of the court at this time and it is unclear whether the statements of the parties will significantly affect the proceedings of the case.
Lawyers for BAM Trading, which operates under the BinanceUS name, have raised concerns about the SEC’s “misleading statements” by filing a complaint about the SEC’s press release. Binance’s lawyers, on the other hand, argued that the SEC’s statement created damaging confusion rather than protecting BAM customers. In addition, the company’s lawyers argued that there was no evidence of any distribution, mixing or misuse of BAM client assets.
The judge gave Binance until September 21 to respond to the SEC’s allegations. The SEC’s response to the company’s defense will be given on November 7.
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