The Securities and Exchange Commission (SEC) has filed a motion to unseal certain confidential documents that caused fear, uncertainty, and doubt (FUD) in the cryptocurrency market last month in the case against Binance, Binance US, and Binance CEO Changpeng Zhao.
In their court application filed on September 15, the SEC lawyers requested to unseal specific documents in the Binance case, withdrawing their previous request to seal them. Both the SEC and the defendants, Binance and Binance.US, had agreed to disclose many of the previously filed confidential documents to the public last month. These documents included “Requests for Compulsion and Other Assistance” and “Opposition to Binance.US’s Protective Order Request.”
According to court records, the SEC will not object to the sealing or partial sealing of certain documents requested to be kept private by BAM Trading Services (Binance US) and BAM Management US Holdings. Both Binance and the SEC continue to request the disclosure of some sealed documents, while some documents remain in dispute.
Furthermore, SEC lawyers argued that Binance’s previous request to keep the documents sealed has caused delays in the case. Experts had expressed concerns about Binance’s request due to the significance of the case.
Next Hearing on September 18
Judge Faruqui, in a memorandum signed on September 13, decided that the next hearing will take place on September 18. Faruqui will hear arguments from BAM Management US Holdings and BAM Trading Services (Binance.US) regarding the protective order request. The judge will also consider the SEC’s objection to Binance’s protection request and the sealing of documents.
