BinanceUS Files Motion In US SEC Lawsuit

Binance, BinanceUS, and CEO Changpeng “CZ” Zhao earlier filed a joint motion to dismiss the lawsuit by the U.S. Securities and Exchange Commission saying that the SEC’s claims on securities-related violations are not plausible. Now, Binance.US has filed a motion to respond to Magistrate Judge Faruqui’s order to show cause related to the SEC’s reply in support of motion to compel.

Binance And US SEC Lawsuit Takes Interesting Turn

According to a court filing on September 22, BAM Management US Holdings and BAM Trading Services (BinanceUS) filed a motion for an extension of time.

The motion came in response to Magistrate Judge Zia M. Faruqui’s order to defendants to show cause to seal or redact any documents relating to the SEC’s Reply in Support of Motion to Compel. An approval of the motion will allow Binance.US to get more time to react to the SEC’s motion to compel.

Furthermore, Binance Holdings Limited and CZ claim that the SEC lacks authority and its arguments on securities violations are unclear. The defendants sought that the court should dismiss all the claims made by the SEC on the grounds that it fails to plausibly allege that any of the crypto assets it is contesting is a security.

Also Read: Coinbase Gets Registration From Bank Of Spain Amid FTX Europe Acquisition Talks

Binance.US Under Pressure

The U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, the securities regulator has filed exhibits against Binance.US revealing that the exchange fails to cooperate in accordance with an earlier agreed consent order. Meanwhile, Binance.US claims that the SEC requests are “overbroad” and “unduly burdensome” in a protective order.

Binance.US trading volume has plummeted significantly from $5 billion to $40 million amid pressure from US regulators.

Also Read: LINK Price Shoots 5% Above $7.0 Amid Heightened Chainlink Address Activity

Recommended
Price Analysis

Best Crypto Presales To Invest In September 2025 – Top Upcoming Presale Tokens

Best Crypto AI Trading Bots In 2025

Top Meme Coins To Buy In September 2025

Varinder Singh

Varinder has over 10 years of experience and is known as a seasoned leader for his involvement in the fintech sector. With over 5 years dedicated to blockchain, crypto, and Web3 developments, he has experienced two Bitcoin halving events making him key opinion leader in the space. At CoinGape Media, Varinder leads the editorial decisions, spearheading the news team to cover latest updates, markets trends and developments within the crypto industry. The company was recognized as Best Crypto Media Company 2024 for high impact and quality reporting. Being a Master of Technology degree holder, analytics thinker, technology enthusiast, Varinder has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers.

Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.

Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.

Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.