Binance Holdings Limited, the global company behind the prominent cryptocurrency platform, has requested a protective order against the United States Securities and Exchange Commission (SEC), accusing the regulator of launching an unreasonable and unbounded investigation into Binance’s asset custody practices.
The clash between the exchange giant and the controversial watchdog has escalated amid the ongoing struggle for clear and balanced crypto regulations.
According to Binance’s petition on August 14, the SEC’s “fishing expedition” is irrelevant to the allegations in the original complaint, with the exchange having already provided information about customer assets.
Binance Strikes Back!
Upon the Consent Order on June 17, BAM Trading Services, the crypto-asset entity that allegedly operates Binance US, was required to take numerous actions, including permitting the SEC to conduct “limited expedited discovery” for a…
