- In the latest development in the case between Binance and the U.S. Securities and Exchange Commission (SEC), attorney Andrew Rhys Davies has filed a motion to appear biased in the case.
- According to the motion, Andrew Rhys Davies is an attorney at the law firm Wilmer Cutler Pickering Hale & Dorr LLP (WilmerHale).
- Binance US is requesting a court order to exclude the statements of Binance US’s CEO and CFO and reject SEC’s unrelated requests, claiming that SEC has exceeded the consent decree.
Attorney Andrew Rhys Davies has filed a motion to support Binance in the case between the U.S. Securities and Exchange Commission and Binance exchange.
Binance Makes a Move Against SEC
In the latest development in the case between Binance and the U.S. Securities and Exchange Commission (SEC), attorney Andrew Rhys Davies has filed a motion to appear biased in the case. The attorney intervenes in response to Binance US’s request for a protective order from the court in light of SEC’s alleged violation of the consent decree.
According to the case filed on August 22 between Binance and the U.S. SEC, attorney Andrew Rhys Davies has requested permission to serve as an attorney. The attorney has come to support BAM Management US Holdings and BAM Trading (Binance.US).
According to the motion, Andrew Rhys Davies is an attorney at the law firm Wilmer Cutler Pickering Hale & Dorr LLP (WilmerHale). He has experience in cross-border cases related to securities, banking, and financial regulations.
Meanwhile, Judge Amy Jackson has referred Binance US’s request for a protective order to Judge Faruqui. Binance US is requesting a court order to exclude the statements of Binance US’s CEO and CFO and reject SEC’s unrelated requests, claiming that SEC has exceeded the consent decree.
Binance is attempting to reduce SEC’s influence on the digital asset industry. Coinbase, Ripple, and Binance have taken action to get rid of the lawsuits and claimed that SEC and CFTC have exceeded their regulatory oversight and authority. Crypto investors argue that SEC’s enforcement actions have harmed them instead of protecting them.
Former SEC Official’s Predictions Come True
Former SEC chairman John Reed Stark’s predictions that Judge Jackson would refer Binance’s request for a protective order to Judge Faruqui for resolution have come true. Stark believes that the judge will order Binance to provide most of the information requested by SEC. However, the judge may eliminate some repetitive or clearly overbroad requests. Stark believes that a DOJ lawsuit against Binance is inevitable and thinks it would be the most effective for Binance.
COINOTAG reported that the U.S. Department of Justice (DOJ) has accused Binance of violating U.S. sanctions against Russia. Stark believes that DOJ will likely file a lawsuit against Binance.
