Binance asks court to make SEC comply with rules of conduct after ‘misleading’ press release

Binance-related companies asked courts connected June 21 to restrict the U.S. Securities and Exchange Commission (SEC) from making definite statements.

That filing notes that the Binance companies and the SEC agreed connected a consent order connected June 17 that dictates however Binance.US tin marque usage of its funds.

However, astir instantly aft that agreement, the SEC published a press release that Binance calls misleading.

The property merchandise successful question asserts that Binance and its CEO, Changpeng Zhao, had power of lawsuit assets and states that those parties were capable to “commingle” oregon “divert” lawsuit assets.

Binance and the defendants asserted that determination is nary grounds that s BAM Trading Services and BAM Management US Holdings misused funds successful immoderate way. It called the SEC’s announcement “disappointing” and warned that the property merchandise could make disorder successful the marketplace and taint the assemblage pool.

The BAM companies and different parties person present asked the tribunal to contented an bid compelling the SEC to comply with rules of behaviour that person already been acceptable out. Those rules prohibit misleading extrajudicial statements that could person a worldly interaction connected the case.

The station Binance asks tribunal to marque SEC comply with rules of behaviour aft ‘misleading’ property release appeared archetypal connected CryptoSlate.