- Judge Zia M. Faruqui instructed SEC and Binance to update progress by April 5.
- SEC scrutinizes Binance’s operations, focusing on asset tracking and regulatory compliance.
- Binance responds with extensive documentation to the last-minute request by the Judge.
In the ongoing legal clash between the SEC and Binance, Judge Zia M. Faruqui has instructed both parties to share an expedited discovery update by April 5. This order seeks insights into the progress of investigations and proposals for the next steps in the legal battle.
The SEC’s scrutiny of Binance delves into various aspects of its operations, including asset tracking and regulatory compliance. The focus extends to Binance’s digital wallet software and fund management practices, underscoring the regulator’s thorough examination of the exchange’s activities.
Binance has responded with extensive documentation, comprising over 300,000 pages, to show compliance with regulatory requirements. Additionally, the exchange has pledged further transparency by offering non-confidential information, such as internal communications, to address any ambiguities . This reaffirms its commitment to regulations in the U…
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