The Securities and Exchange Commission (SEC) has thrown some serious shade at Binance.US, claiming they’re playing hard to get in an ongoing investigation. According to SEC, BAM Trading Services, operating as Binance.US, has been dodging key questions regarding customer assets and other crucial aspects of the probe.
SEC lawyers penned down, “SEC believes BAM is hitting a wall with certain critical questions they can’t or won’t answer, hence Court intervention is necessary.”
The heart of SEC’s inquiry revolves around whether Binance’s non-U.S. staffers have access to Binance.US customer assets. SEC alleges that Binance.US hasn’t proved they lack access to private keys or other means to access customer assets.
In response, Binance.US brushed off SEC’s allegations, claiming they’ve complied with all “extensively broad” information requests from regulators and asked the Court to halt the fast-track investigation.