Exciting Update: Binance, BinanceUS, and CZ Resolves All Discovery Disputes with US SEC!
The U.S. SEC v. Binance Holdings lawsuit is making significant strides forward. The SEC and defendants Binance, Binance.US, and former CEO Changpeng “CZ” Zhao are nearing completion of the discovery and deposition process required by the securities regulator.
Here's what's been happening:
Discovery Issues Resolved: The SEC and the defendants have reached an agreement on discovery matters, indicating that the disputes related to evidence requests and the separation of Binance and Binance.US are largely resolved.
Depositions Completed: Depositions from Binance and Binance.US have been successfully conducted, with the SEC now reviewing the final submissions by the defendants.
Continued Discussions: CZ and the SEC are actively engaged in discussions regarding document requests, aiming to resolve any remaining issues without court intervention.
Next Steps: The case is moving into its final stages, with anticipation for the Rule 30(b)(6) deposition to be held in the coming weeks. This will aid in identifying relevant witnesses and documents to determine if Binance violated any laws.
Preparation for Settlement?: With the SEC winning most motions in similar cases, including Coinbase, and considering the substantial allegations in the Binance lawsuit, a settlement with significant penalties could be on the horizon.
Stay tuned for further updates as the case progresses!
