SEC Seeks Court Order For Omnibus Brief Against Binance, Binance US, And CZ
In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, Binance.US, and CEO CZ, the SEC seeks to file an omnibus brief. The securities regulator aims to dismiss the complaint filed by Binance.US, as well as a motion by Binance Holdings and Changpeng “CZ” Zhao to dismiss the lawsuit.
Moreover, Magistrate Judge Faruqui has granted an order to seal certain documents related to the parties’ Joint Status Report.
SEC Wants Court To Deny Dismissal of Binance Lawsuit
In response to the latest request by Binance, CEO CZ, and Binance.US to dismiss the lawsuit, the U.S. SEC filed a motion seeking an order to file an omnibus brief of no more than 80 pages.
The SEC is preparing a lengthy response to the motions by the defendants to dismiss the lawsuit. The regulator argues defendants have made overlapping legal arguments in support of their motions.
“Rather than filing separate briefs responding to each motion, the SEC respectfully submits that it is in the interests of judicial economy to permit the SEC to respond to both motions in an omnibus brief.”
Judge Approves Motion to Seal by Binance.US
Magistrate Judge Zia M. Faruqui has approved a motion by Binance.US (BAM Trading Services and BAM Management US Holdings) to seal certain documents related to the parties’ Joint Status Report filed on October 10.
The magistrate judge stated that the motion is supported by good cause to prevent unauthorized access to confidential and personal information.
Meanwhile, the Chamber of Digital Commerce joins other digital assets companies and associations, law firms, and lawmakers to dismiss the Binance vs U.S. SEC lawsuit.
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