The SEC Against Binance Again

The SEC and Binance continue the controversy in an American court.

Recall that earlier the judge ordered the parties to work together and deal with the real situation inside the exchange. After months of such cooperation, the SEC complained to the judge that the exchange refused to provide all the necessary papers.

The Exchange claims that all formalities have been fulfilled. With regard to the refusal to provide all information, the explanation was simple: that information is a trade secret and is not subject to disclosure.

And frankly, I don’t even want to understand, does the SEC need this information for analysis, or not, I assess the situation negatively. Now we see not just interference, but a clear attempt to take control of the crypto exchange. 

Formally, the court decision does not give the commission the power to receive any information, the notion of trade secret is also not abolished. This is not the first time that the SEC has interpreted its powers broadly. The problem lies not only in the requested documents, but also in the subsequent accusations.

I fully understand Binance’s reluctance to give documents to an entity that is strongly opposed to cryptocurrencies. This negative attitude has become almost an official position. Is it possible to expect an objective approach?

It was initially understood that the goal of the global company against Binance was to establish full control. In fact, the goal was achieved - the recalcitrant CEO resigned. However, the SEC continues to exert pressure. It is difficult to say that this is the inertia of the bureaucratic machine or the principled position of the opponents.

In any case, Binance is still in a difficult situation - its US division was again at risk of attacks by the SEC.

I do not rule out that the SEC was dissatisfied with Binance’s deal with the state and now shows its discontent. Obviously, if the Commission’s policy remains the same, trials will inevitably be repeated.

#SEC #Binance #Controversy