The SEC laid into what they say is Binance.US’s 'slow-rolled small productions of documents' and called for the court to order an inspection.
Connect/Create WalletNo wallet? No problem. You can set one up for free. We recommend Torus for first-time users.In a Monday court filing, the Securities and Exchange Commission laid into what it says is Binance.US’s"slow-rolled small productions of documents” and called for the court to order an inspection of the firm., but said BAM, the company behind Binance.US, has so far not obliged.
"BAM insists that this Court, like the SEC, should accept packaged counsel narratives, carefully drafted declarations, and small curated sets of documents regarding control of BAM's customers' assets, and that any lingering concerns are 'much ado about nothing,'" the SEC said in theThe accusations came hours ahead of a hearing in the U.S.
The agency called for an inspection and said that BAM"stonewalled on entire categories of information that would likely shed light on its shaky assertions concerning the custody of customer assets." The SEC said it wants an inspection of BAM's technological infrastructure and software, among other areas.
"The limited inspection the SEC has been able to conduct so far demonstrates the urgent need for an inspection," the agency said.
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