SEC reverses decision on sealing, redacting some documents in Binance.US case

Observers should soon take a look at some of the documents sealed in the US Securities and Exchange Commission (SEC) case against Binance. The documents were sealed at the request of the SEC with the agreement of both parties and will be opened at the request of the SEC itself.

District Court of the District of Columbia Magistrate Judge Zia Faruqui issued a Sept. 15 order granting the SEC's motion to unseal the documents. The order lists 18 sealed documents and nine other partially sealed or redacted documents.

Binance and "any non-party claiming a confidentiality designation with respect to documents related to the SEC's Compulsory Motion" will be able to argue against the opening for seven days, and the SEC will have seven days to respond to those. claims.

The SEC's late-night filing in the Binance case is mostly redacted and sealed, but it appears the SEC responded with tons of evidence and testimony against some claims Binance has made. It's a landslide compared to what we've seen so far.

I wonder if there is any correlation with the strange Chinese over-the-counter medications... pic.twitter.com/rq5oeXycdE

- Adam Cochran (adamscochran.eth) (@adamscochran) September 15, 2023

All documents sealed, filed as file no. 102, were presented on August 28. It was speculation at the time. which were related to a US Department of Justice investigation into Binance. The partially sealed documents total 117 pages. These include internal Binance.US documents, emails, and SEC court filings, including the memo regarding Binace.US. compliance with SEC discovery efforts presented on September 14.

Related: Binance.US Not Cooperating with Investigation, US SEC Says in Document

The list in Faruqui's order does not include all the sealed documents presented in the case. A proposed order filed by BAM, the Binance.US holding company, on September 11, along with the SEC's opposition document and eight exhibits, were filed as sealed and are not mentioned in the order.

The SEC's case against Binance.US, Binance and CEO Changpeng Zhao was launched in June and revolves around claims of unregistered securities trading and other irregularities, including wash sales. Binance.US filed for a protective order against the SEC in August.

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