Binance and SEC Clash Over Evidence Production and Witness Depositions in Ongoing Legal Battle The legal battle between
Binance and the United States Securities and Exchange Commission (SEC) continues to intensify as court documents shed light on the clash over evidence production and witness depositions in the SEC’s case against the leading
cryptocurrency exchange. According to a joint status report filed on January 25, the
SEC alleges that BAM Trading Services, the parent company of Binance.US, has not fully complied with its information requests. The regulatory body seeks detailed insights into the custody and liquidity of assets, expressing concerns that
Binance US might have undisclosed control mechanisms over customer funds, reminiscent of the
FTX scandal. BAM’s attorneys vehemently refute these allegations, asserting that the company has adhered to all document production requirements stipulated in the consent order and the expedited
recovery request. They argue that the SEC’s methods, including issuing a
Temporary Restraining Order (TRO) and pursuing expedited discovery, have imposed an undue burden on BAM.
