The United States Securities and Exchange Commission (SEC) and Binance, along with its U.S. arm Binance US and founding partner Changpeng Zhao, continue their legal battle at full speed. Most recently, the plaintiff SEC and the defendants Binance, Binance US, and founding partner Zhao presented a joint status report to the court. The defendants declared that they will continue to provide documents and give testimony for the upcoming technical review of Binance US next week.
Joint Status Report from Binance and the U.S. SEC
The latest joint status report submitted to the court reveals the full cooperation of defendants Binance, Binance US, and founding partner Changpeng Zhao according to the court’s consent order expected in June. In line with this cooperation, the SEC will review the technical infrastructure, systems, and software of Binance US.
Cryptocurrency exchange Binance’s U.S. branch, Binance US, informed the court that it will continue to meet the SEC’s demands for documents and testimony. The parties have agreed to meet and discuss to minimize disputes related to document discovery and testimonies before submitting the next status report to the court.
As a result of this cooperation, the SEC and Binance plan to submit the next status report to the court on January 25, 2024.
Binance US Hires Five Special Attorneys
On the other hand, Binance US has hired five special attorneys to handle the litigation process. Attorneys Sheehan H. Band, Levi Giovanetto, Daniel J. Davis, Christian Kemnitz, and David Luger have separately filed notices of appearance in court on behalf of Binance and Binance US.
The defendants Binance, Binance US, and founding partner Zhao requested last week from Judge Amy Berman Jackson that the case be dismissed. The defendants believe that the SEC’s arguments are groundless and that the listed cryptocurrencies and offered cryptocurrency investment products do not violate U.S. securities laws.
