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Home ยป New court filing reveals potential details of US SEC’s undisclosed submission in Binance lawsuit.

New court filing reveals potential details of US SEC’s undisclosed submission in Binance lawsuit.

The US SEC and Binance have submitted a joint stipulation and proposed order, revealing hints about the SEC's undisclosed filing.

by V. Sinclair
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Following Binance.US’s motion for a protective order and the U.S. Securities and Exchange Commission’s (SEC) opposition to the order, both parties have now filed a joint stipulation and proposed order. This recent court filing provides some hints about the contents of the SEC’s undisclosed filing, leaving many anticipating potential negative news.

The joint stipulation and proposed order were submitted by attorneys representing the plaintiff, the U.S. SEC, and the defendants, BAM Trading Services and BAM Management US Holdings (Binance.US). A stipulation is a formal agreement between opposing parties before a pending hearing or trial.

This filing is related to Binance.US’s motion for a protective order and the SEC’s opposition to it. Binance.US argues that the SEC is exceeding the consent order previously agreed upon and requests the court to preclude depositions of Binance.US’s CEO and CFO. They also seek to reject the SEC’s demands that are unrelated to the case.

The SEC and Binance.US have agreed to allow Binance.US to file a single memorandum in response to the SEC’s opposition and motion to file a document under seal. Both parties have requested a court order regarding the opposition filed by BAM Trading Services and BAM Management US Holdings, which is scheduled for September 11.

Regarding the SEC’s secret filing on August 28, the latest court filing in the US SEC v. Binance lawsuit reveals that it pertains to the opposition to the motion for a protective order and a motion to compel and seek other relief. A motion to compel typically asks the court to enforce a request for information from the opposing party, often in the context of discovery disputes.

It is likely that the SEC is compelling Binance.US to submit a financial report and other details as per an earlier consent order. The SEC is also seeking relief in the lawsuit, although specific details remain confidential as the filing remains undisclosed.

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