In a Court Filing, the U.S. Securities and Exchange Commission (SEC) pointed to Binance’s document production, regulatory violations, concerns about asset control, inconsistent statements, uncooperative responses, and limited cooperation in providing witness testimonies.
The securities regulator alleged that Binance.US’s holding company, BAM, failed to provide sufficient documents upon the agency’s discovery requests related to customer assets.
According to the document, BAM submitted only 220 documents during the discovery process. However, these documents included “unintelligible screenshots” and items lacking “dates or signatures.”
More Problems for Binance
The SEC also accused Binance.US of uncooperative responses to the SEC’s demands for relevant communications and refusing to produce documents it claimed did not exist, even though the SEC obtained these documents from other sources.
The SEC added that BAM’s…
