In a recent blow to the US Securities and Exchange Commission (SEC), a federal magistrate judge has rejected the regulator’s request for immediate access to Binance.US’s software.
The decision comes as part of the ongoing case between the SEC and the crypto-trading platform, which has been facing scrutiny over its operations.
SEC Faces Hurdle In Obtaining ‘Key’ Information From Binance.US
According to a Bloomberg report, the SEC had sought to delve into Binance.US’s technological infrastructure and obtain other requested information, citing difficulties in obtaining crucial data since filing the lawsuit against the American exchange, its international affiliate Binance Holdings Ltd., and CEO Changpeng Zhao in June.
However, Judge Faruqui, presiding over the hearing, declined the SEC’s request, emphasizing the need for more specific discovery requests. He suggested that the regulator should engage with a broader range…
