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US SEC to File Sealed Documents Against Binance in Enforcement Action

The SEC's enforcement action against Binance, Binance.US, and CZ Zhao may be taking a crucial turn as the SEC files a motion to file documents under seal. This comes after Binance.US sought a protective order, claiming that the SEC exceeded the agreed-upon consent order.

The SEC has filed a sealed motion for leave to file documents under seal, along with 37 supportive submissions, including a declaration by SEC senior trial attorney Jennifer Farer and an exhibit filed by SEC attorney Matthew Scarlato. The move suggests that the SEC is intensifying its action against the world's largest crypto exchange and its U.S.-based entity for ignoring the earlier-agreed agreement.

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