- In June, the SEC accused Binance of operating as an unregistered securities exchange.
- Binance has taken legal action by filing for a protective court order against the SEC.
Cryptocurrency giant Binance has taken legal action against the US Securities and Exchange Commission (SEC), filing for a protective court order due to concerns over the agency’s extensive and burdensome requests for the company’s communications.
The move comes after Binance and the SEC had previously reached an agreement in court allowing the exchange to continue its operations in the United States while facing fraud charges from the SEC.
Binance filing
Further, Binance’s protective order request is seen as a response to what the company refers to as a “fishing expedition” by the SEC, aiming to address concerns about the scope and impact of the regulator’s discovery requests.
In June the regulatory authority had alleged that Binance violated US laws by operating as an unregistered securities exchange.
In addition to the SEC case, Binance is contending with a lawsuit from the Commodity Futures Trading Commission (CFTC), which the exchange is actively seeking to have dismissed.
Notably, Binance is not alone in this legal battle, as the SEC had also filed similar charges against another leading cryptocurrency exchange, Coinbase.
