The U.S. District Court for the District of Columbia has recommended that Binance.US cooperate with the Securities and Exchange Commission (SEC)'s request for information.
According to The Block on the 19th (local time), the SEC filed a court opinion, alleging that BAM, the operator of Binance.US, is not cooperating with its requests for information. The SEC stated that it had previously requested detailed information about Binance.US's policies regarding the handling of investor assets, but has yet to receive the information.
Binance.US has refused to provide the SEC with the information, calling the request “overly broad and burdensome.”
Judge Zia Farooqi then recommended that Binance.US comply with the SEC's request for information, saying, "Both sides should remain calm and cooperate as much as possible."
Meanwhile, the SEC and Binance.US have agreed to submit a joint status report by October 10th ahead of a hearing on October 12th.
- Reporter Park Ji-hyun
- claris@decenter.kr
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