June 26 (Cointime) - Binance's request for the federal judge presiding over the SEC case against them to rebuke the regulator over language used in a press release has been denied.
The SEC's language in question was used to describe alleged commingling or diversion of customer assets from the trading platforms to investment vehicles that the agency says Changpeng 'CZ' Zhao controls.
Binance's lawyers argued that the language could prejudice a jury, but Judge Amy Berman Jackson of the District Court of the District of Columbia denied the motion, stating that court intervention was not necessary at this time.
The SEC wants to freeze assets for Binance.US, Binance, and Zhao, as well as bar them from doing business in the U.S., alleging that they redirected billions in customer funds to investment vehicles controlled by Zhao.
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