SEC reverses decision on sealing, redacting some documents in Binance.US case

Observers should soon get an appearance at some of the sealed documents in the United States Securities and Exchange Commissions (SEC) case against Binance. The files were sealed at the SECs demand with the agreement of both sides and are being unsealed at the request of the SEC itself.District of Columbia District Court Magistrate Judge Zia Faruqui provided an order Sept. 15 giving the SECs movement to unseal the documents. Source: CourtListenerBinance and “any nonparty that claims a privacy designation regarding documents relating to the SECs Motion to Compel” will be able to argue against the unsealing for seven days, and the SEC will have 7 days to react to those claims.Late night filing by SEC in Binance case mainly redacted and sealed but it looks like SEC fired back loads of evidence and testament against some claim Binance has made.

All of the sealed documents, filed as docket no. 102, were submitted on Aug. 28. There was speculation at the time that they were connected with a U.S. Justice Department investigation of Binance. The partly sealed documents amount to 117 pages. Among them are internal Binance.US documents, emails and SEC court filings, consisting of the memorandum on Binace.US compliance with SEC discovery efforts submitted Sept. 14. Related: Binance.US not cooperating with investigation, United States SEC says in filingThe list in Faruquis order does not incorporate all the sealed files filed in the event. A proposed order filed by BAM, the Binance.US holding company, on Sept. 11, in addition to the SECs opposition file and 8 exhibitions, were filed as sealed and are not discussed in the order. The SEC case versus Binance.US, Binance and CEO Changpeng Zhao was started in June and focuses on claims of unregistered securities operations and other improprieties, including wash sales. Binance.US asked for a protective order versus the SEC in August. Publication: Cleaning up crypto: How much enforcement is excessive?