The court hearing the SEC’s pending case against Binance said there was no need to review the public statements made by both parties on June 26.
The relevant warrant, signed by Judge Amy Berman Jackson, stated:
“While all attorneys in this case must adhere to their ethical obligations… it is not… necessary or appropriate for the court to interfere in the formulation of press releases from the parties.”
The order also stated that there is currently no need to reiterate that attorneys must meet their ethical requirements. It additionally said it is not clear that PR statements published to date will materially influence the proceedings.
The court additionally established a timeline for proceedings in an unrelated but concurrent order. There, it said that Binance’s responsive pleas must be filed on September 21 and the SEC’s oppositions must be filed on November 7. All answers must be submitted by December 12.
It is still unclear when the case can be fully concluded.
Binance said SEC made misleading statements
The latest developments are a result of the first three weeks of the US Securities and Exchange Commission (SEC) lawsuit against Binance.
After the SEC sued Binance and related parties on June 5, the agency asked the court to allow the motion of Binance.USrelated funds. Binance and the SEC later reached an agreement that placed fewer restrictions on corporate and client funds.
Later, on June 21, the US Securities and Exchange Commission (SEC) issued a press release stating that this agreement had been reached.
Binance immediately responded by stating that the SEC press release contained misleading facts. The SEC’s announcement specifically suggested that Binance members had “mixed” or “diverted” funds. The SEC also said the court found the relevant allegations to be true, even though the case is still pending.
As a result, Binance asked courts to prevent the SEC from making misleading statements – a request that has now been denied with the latest motion.
Court message says no need to “forge words” Binance and SEC’s announcements appeared first on CryptoSlate.