Late Monday, crypto exchange Binance filed a motion in court for a protective order against the US Securities and Exchange Commission, noting recent requests for information from the agency were “over broad” and “unduly burdensome.”
In the filing, with the US District Court of Columbia, BAM Trading, the US operating company of Binance US, and BAM Management argued their operation had already supplied the regulator with sufficient information.
Among other requests, Binance requests the court limit the SEC to only four depositions from BAM employees, and to force it to abandon its request for a deposition from BAM’s chief executive, and its financial officer.
Neither Binance nor the SEC responded to media requests for comment immediately.
Binance and CEO Changpeng Zhao were sued by the SEC in June, for operating an alleged “web of deception,” which was trading securities illegally. The suit listed 13 charges, including that the company would artificially inflate trading volumes, that it would divert customer funds, that it failed to restrict US customers from its platform, and that it misled investors about its market surveillance controls.
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