The SEC says Binance.US is not cooperating with its investigation and has only produced just 220 documents.
"As of the date of this filing, BAM has only produced a little over 220 documents," the SEC said."Many are unintelligible screenshots of bank account information, documents without dates or signatures, and letters from counsel and tables that appear to be prepared for purposes of this litigation, without any supporting evidence or verification by an individual with knowledge confirming the accuracy of the information.
BAM, specifically initially refused to give over information about Ceffu, which the SEC says is a"newly rebranded Binance Entity" that appears to control customer assets. "BAM has either declined or so far has yet to produce general ledgers as of end of second quarter 2023, bank account opening documents, and documents sufficient to show authorized signatories on the accounts, but they are crucial to testing BAM's assertions that Customer Assets and BAM’s assets are safe, secure, appropriately segregated, and ready for immediate customer withdrawal," the agency said.
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