- Regulator says it is not getting enough access in lawsuit
- Magistrate judge didn’t grant expedited discovery request
The US Securities and Exchange Commission failed on Monday to convince a federal magistrate judge to immediately let officials delve into Binance.US’s software, a setback for the Wall Street regulator in its case against the crypto-trading platform.
The SEC says that it has been struggling to get information from Binance.US since it sued the American exchange, along with its international affiliate Binance Holdings Ltd. and its Chief Executive Officer Changpeng Zhao in June. The regulator on Monday asked a federal magistrate judge to allow an inspection of Binance.US’s technological infrastructure, and to force the company to share other requested information.
SEC Fails to Win Immediate Inspection of Binance US Software