The legal battle continues between the United States Securities and Exchange Commission (SEC) and Binance, the United States branch Binance US, and founder Changpeng Zhao. The parties have submitted a joint status report to the court. Ahead of the examination of Binance US’s technical infrastructure next week, Binance has stated it will continue to provide documents and testimony.
Binance, Binance US, and founding partner Zhao declared that they are in full cooperation in accordance with the court’s expected consent in June. The SEC will review the technical infrastructure, systems, and software of Binance US.
Binance US informed the court that it will continue to comply with the SEC’s requests for documents and testimony. The parties will meet and consult to minimize any disagreements regarding document discovery and testimony before submitting the next status report.
As a result of this cooperation, the SEC and Binance plan to submit the next status report to the court on January 25, 2024.
On the other hand, Binance US has hired five special attorneys to manage the legal process. Attorneys Sheehan H. Band, Levi Giovanetto, Daniel J. Davis, Christian Kemnitz, and David Luger have made separate appearance notifications in court on behalf of Binance and Binance US.
Binance, Binance US, and founding partner Zhao believe the SEC’s arguments are unfounded and that the listed cryptocurrencies and offered crypto investment products do not violate US securities laws, requesting the case to be dismissed last week by Judge Amy Berman Jackson.