Posted 9/16/2023, 4:57:00 PM

SEC Records Against Binance US Unsealed Amid Concerns Over Criminal Charges, Executive Exodus, and Global Regulatory Pressure

A U.S. judge has allowed the SEC to unseal documents in its case against Binance US, providing insights into the agency's claims.
The unsealed records may relate to criminal accusations against Binance US, per a former SEC official.
Binance has seen over 10 senior staff departures recently, raising concerns about stability.
However, Binance's CEO remains confident, citing achievements under the exiting Binance US CEO.
Binance faces heightened regulatory scrutiny globally, although it still leads crypto exchanges with a ~40% market share.

beincrypto.com

Relevant topic timeline:

8/25/2023

The Aftermath: Fate of Cryptos Deemed Securities by the SEC

The US SEC has filed lawsuits against Binance and Coinbase, accusing them of various regulatory violations, leading to intense discussions about cryptocurrency classification as securities and causing a negative impact on the prices of many altcoins mentioned in the lawsuits.

8/29/2023

SEC's Secret Binance Court Filing Has Observers Bracing for Bad News

The US Securities and Exchange Commission has submitted a sealed motion in its case against Binance, prompting speculation about potential further negative developments for the cryptocurrency exchange.

8/29/2023

Sealing docs in Binance case could suggest a criminal probe, says former SEC official

The US Justice Department may have indicted or intends to indict Binance, as suggested by a motion filed by the United States Securities and Exchange Commission (SEC) to file sealed documents in their civil case against Binance, strengthening the speculation of an ongoing criminal probe.

9/12/2023

Binance.US Pushes Back on SEC Request for Depositions in Ongoing Dispute

Binance.US rejects claims made by the SEC, calling them unsubstantiated and maintaining that it has custody and control over its digital assets, in response to the SEC's request for depositions and further discovery.

9/18/2023

Judge Urges Compromise in Ongoing SEC-Binance Dispute Over Depositions and Document Requests

A U.S. judge has declined to order Binance.US to make its executives more available for depositions or for the SEC to back down in its demands for more documents, instead urging the two parties to work together on discovery requests.

9/22/2023

Binance Seeks Dismissal of SEC Lawsuit, Claiming Regulator Overreached on Crypto

Binance and its CEO Changpeng Zhao have filed a motion seeking the dismissal of the SEC lawsuit, claiming that the regulator overstepped its authority and failed to provide clear guidelines for the crypto sector.