Fostul șef SEC prevede un compromis în cazul Binance vs SEC

Leading cryptocurrency exchange Binance recently depusă a protective order against the enforcement action levied by the United States Securities and Exchange Commission (SEC). Commenting on this, former SEC Chief John Reed Stark opined that there is a “discovery storm brewing” between both parties from both parties’ current moves 

Binance Went on the Offensive Against SEC

The U.S. arm of the crypto exchange Binance Holdings, together with some other associates like BAM Trading Services Inc. and BAM Management U.S. Holdings Inc. requested that the court limit the SEC to four depositions of BAM employees. 

They also asked that the court preclude “the SEC from questioning witnesses during depositions on matters outside the scope of the Consent Order.” 

Ce se va întâmpla probabil cu privire la moțiunea recentă a Binance pentru un ordin de protecție în cazul SEC/Binance

În mod clar, se pregătește o furtună de descoperiri între SEC și Binance. Printre alte nemulțumiri, brațul american al schimbului de criptomonede Binance Holdings se luptă cu o încercare a SUA... pic.twitter.com/LzTjsMeMWp

– John Reed Stark (@JohnReedStark) August 16, 2023

The request for precluding depositions was also requested for BAM’s Chief Executive Officer, Brian Shroder and its Chief Financial Officer, for all communications about various topics.

Binance stated that the regulator’s cereri de for communication are ‘overboard’ as well as ‘unduly burdensome’. Furthermore, the top exchange highlighted that it has provided the SEC with all necessary information to assure the commission of the safety of its customers’ assets. But the regulator seems hell-bent on conducting a “fishing expedition” on its operations and this has outraged Binance.

Unusual Judicial Oversight and Compromise

Stark believes that the entirety of the matter would be handled better with an unusual judicial oversight under an ‘onerous and exigently’ obtained Consent Order. He posited that a Temporary Restraining Order (TRO) Agreement which would be signed by D.C. District Court Judge Amy Berman Jackson who is currently presiding over the lawsuit.

This unique judiciary oversight technically come with expedited discovery, meaning that a summary judgment would be pronounced faster than expected. The ex-SEC official claimed that the current discovery dispute is not peculiar to the Binance/SEC case, adding that he experienced similar scenarios during his time as Chief.

In this case, Stark is confident that Judge Jackson will come to a compromise by taking either of two options. The judge may decide to oversee the discovery himself or end up appointing an experienced and trusted D.C. magistrate judge to supervise the process. To stay on course, Judge Jackson will likely set a couple of deadlines and hearing dates.

Benjamin Godfrey este un entuziast al blockchain-ului și jurnaliștii cărora le place să scrie despre aplicațiile din viața reală a tehnologiei blockchain și a inovațiilor pentru a stimula acceptarea generală și integrarea mondială a tehnologiei emergente. Dorințele sale de a educa oamenii despre criptomonede îi inspiră contribuțiile la mass-media și site-uri renumite bazate pe blockchain. Benjamin Godfrey este un iubitor de sport și agricultură. Urmărește-l Twitter, Linkedin

Conținutul prezentat poate include opinia personală a autorului și este supus condițiilor pieței. Faceți cercetările de piață înainte de a investi în criptomonede. Autorul sau publicația nu își asumă nicio responsabilitate pentru pierderea dvs. financiară personală.