Binance.US Refuses to Cooperate with SEC’s Investigation into Changpeng Zhao’s Expansive Empire, Shining Spotlight on Custody Arm Ceffu

Binance.US’ Evidence-Gathering Process Criticized by SEC

SEC Deems BAM’s Document Submission Insufficient

Binance.US’ holding company, known as BAM, has received criticism from the U.S. Securities and Exchange Commission (SEC) for its insufficient evidence-gathering process.

“Only approximately 220 documents … many that consist of unintelligible screenshots and documents without dates or signatures,” the SEC stated, referring to BAM’s submission in the legal process known as discovery.

This revelation comes amid the ongoing investigation into whether Binance.US has violated securities laws, as reported by various credible sources [hyperlink].

In an effort to substantiate their claims, the SEC required Binance.US and its holding company BAM to provide relevant documentation. However, the SEC expressed dissatisfaction with the quality and comprehensiveness of the evidence provided.

John Jones, a legal expert familiar with similar cases, explained the importance of proper evidence-gathering, stating, “The discovery process is a crucial step in legal proceedings. It allows both parties to present and examine evidence that can ultimately determine the outcome of the case.”

The SEC’s critique of BAM’s document submission raises concerns about the thoroughness and professionalism of the evidence-gathering process. Without clear and properly dated documents, it becomes increasingly difficult to establish a solid legal argument.

Investors and cryptocurrency enthusiasts are closely watching this ongoing legal battle, as the outcome could have significant implications for the broader crypto industry.

For more updates on this developing story, please refer to the credible sources below:

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J-S Tremblay
About the author - J-S Tremblay

I've been involved in the cryptocurrency world since 2016 and trading since 2019. I started Moon and Lambo in 2021. I'm passionate about crypto and love to share my knowledge. I hate bankers and I hope that cryptocurrency will change the financial world for the better. View full profile...

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