U.S. SEC denied immediate access to Binance.US software
A US federal judge has denied the US Securities and Exchange Commission (SEC) immediate access to Binance.US’ software in response to the regulator’s request to request more detailed information from Binance and greater availability of its executives to testify .
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Brief information
- On Monday, Federal Judge Zia Faruqui said he was “not inclined to allow the inspection at this time.” According to a Bloomberg report, he asked the SEC to make more specific requests.
- Binance, the world’s largest crypto exchange, has had to deal with growing regulatory challenges in the US this year.
- In June, the crypto exchange was sued by the SEC for allegedly violating its securities mandate.
- Earlier this month, the exchange laid off a third of its employees, or more than 100 employees. Brian Shroder, the CEO of Binance US, also left the company.
- According to Reuters, Binance’s global product chief Mayur Kamat has also resigned from the company.
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