The legal battle between the U.S. Securities and Exchange Commission (SEC) and Binance and its CEO Changpeng Zhao took an unexpected turn when the SEC filed a petition in the Binance.US lawsuit to present the documents under seal.
SEC Files New Claim in Court in Case Against Binance and CEO CZ
This development comes after Binance.US requested a protective order, claiming it went beyond the SEC's agreed-upon consent decision.
The petition, filed by the SEC on Aug. 28, seeks permission to present documents under seal, a practice that protects sensitive or confidential information from public disclosure. The sealed document is limited to authorized personnel only.
Alongside the SEC's request, a total of 37 supporting documents were submitted to the court, including exhibits, statements and appendices. The details of the sealed documents remained confidential.
The SEC has previously filed 13 charges against Binance, Binance.US, and CEO Changpeng “CZ” Zhao.
In addition, Binance.US has also denied some of the SEC's requests, which it considers unrelated to the case. The dispute led to Judge Amy Berman Jackson's appointment of Magistrate Faruqui to mediate between Binance.US and the SEC.
As the legal battle continues, Binance continues to ask for lawsuits to be dropped, echoing the efforts of other crypto industry giants like Ripple and Coinbase.
*Not investment advice.