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Binance’s US-based crypto exchange Binance.US to file its reply to the U.S. Securities and Exchange Commission’s (SEC) motion to file secret documents and objection to the protective order. The lawsuit crucial for the entire crypto industry has pro-XRP attorney John E. Deaton and other experts speculating on details in the confidential documents.
Deaton Looks At the Binance vs US SEC Lawsuit
XRP lawyer John E. Deaton on September 11 said Binance objects to the SEC’s motion to file sealed documents will be interesting, another blow to the SEC’s weakening arguments in federal courts. In addition, it will possibly hint at the nature of the documents the SEC submitted to the court.
“As I said on @CryptoLawUS and other channels, it will be interesting to see whether Binance objects to the SEC’s Motion to Seal certain documents (over 30 plus exhibits). Binance’s response could be insightful regarding the nature of the documents.”
CoinGape Media earlier reported that the SEC made 37 supportive submissions including exhibits, declaration, and supplements along with a motion in opposition to the protective order by Binance.US. Furthermore, a recent filing hinted at a motion to compel and for other relief filed by the SEC. A motion to compel asks the court to enforce a request for information from an opposing party, typically in discovery disputes.
Deaton earlier predicted that Coinbase would ultimately dismiss the lawsuit and Binance’s lawsuit would likely end with a deal with the SEC. He also doesn’t agree with former SEC official John Reed Stark over using the DOJ investigation details in the case.
Binance hired former SEC officials for the case, causing the lawsuit to move ahead mostly with deals and stipulations. Binance CEO CZ also shared that the lawsuit is moving in the right direction, preventing any impact on the crypto market.
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