The U.S. SEC asks the court to investigate Binance.US asset custody issues

CoinDesk reported that the SEC urged the Washington, D.C., court to approve an investigation into Binance.US asset custody issues, according to a court filing on Monday. In the filing, the SEC reiterated its concerns about Binance’s use of custody platform Ceffu and believed that the case would be closed. The findings indicated an "urgent need for inspections". The SEC believes that Ceffu, which changed its name from Binance Custody earlier this year, may also have provided services for Binance.US and thus been used to move U.S. customers’ funds out of the country, in violation of previous agreements. The regulator further accused the company of "providing inconsistent representations of key facts, being slow to provide documents and information on a small scale, and obstructing entire categories of information that could expose its unreliable claims regarding the custody of client assets."