NewsletterBreaking: Judge Approves New Attorney For Binance After SEC’s Secret Filing
In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, Binance.US, and CEO Changpeng “CZ” Zhao, a federal judge has approved a new attorney for BinanceUS. Meanwhile, the SEC seeks an order from the court to file ‘document under seal’, and experts believe it’s related to money laundering allegations or other potential criminal conduct.
Binance Gets Expert Attorney Against the US SEC
According to a new filing in the Binance vs US SEC lawsuit on August 30, attorney Andrew Rhys Davies filed a notice of appearance for BAM Management US Holdings and BAM Trading Services (Binance.US). Judge Amy Berman Jackson has approved the earlier motion by Davies to appear pro hac vice in the lawsuit.
According to a previous order, Judge Jackson wanted Davies to file a notice of appearance to appear in the Binance vs SEC lawsuit.
“MINUTE ORDER granting 99 Motion for Leave of Andrew Rhys Davies to Appear Pro Hac Vice only upon condition that the lawyer admitted, or at least one member of the lawyer’s firm, undergo CM/ECF training, obtain a CM/ECF username and password, and agree to file papers electronically.”
CoinGape Media earlier reported that the attorney comes in as BinanceUS seeks protective order from the court in response to the SEC’s exceeding the agreed-upon consent order. Judge Amy Jackson referred Binance.US’ protective order motion to Magistrate Judge Faruqui for resolution of the dispute.
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The US SEC Secret Filing
Meanwhile, the SEC is filing sensitive or confidential information in the lawsuit. The securities regulator is likely looking to intensify its action against the world’s largest crypto exchange and its U.S.-based entity for completely ignoring the earlier-agreed agreement.
Former SEC enforcement official John Reed Stark believes the SEC may reveal criminal investigation or prosecution conducted by the U.S. Department of Justice against Binance. Also, it could place a witness or company at risk. However, these are just assumptions and the actual details will remain confidential.
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