Binance.US calls SEC’s court requests ‘unreasonable’ in new filing - New Style Motorsport

Binance said the SEC’s requests are “unduly burdensome” soon after the parties agreed on a joint motion to file confidential information under seal.

Binance.US has responded to the motion to compel and reply by the United States Securities and

Exchange Commission, calling most of the SEC’s requests “unreasonable” and “unduly burdensome.”

On Sept. 12, attorneys for BAM Trading Services, which operates the Binance.US cryptocurrency

exchange, filed sealed documents in opposition to the U.S. SEC seeking additional details from Binance.US.

The defendants argued that the SEC’s requests for production and interrogatories are “overly broad,

unduly burdensome” and “beyond the scope of the consent order.” BAM attorneys claimed that the

SEC’s demand for certainty, as well as the requests for depositions of BAM CEO Brian Shroder and

chief financial officer Jasmine Lee, were “unreasonable.”

BAM attorneys stated that the SEC’s motion “does not identify any evidence” that Shroder and Lee are

involved in the day-to-day management details concerning the custody and transfer of customer assets at Binance.US.

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