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<p>The post <a rel="nofollow" href="https://coinpedia.org/news/binance-us-welcomes-new-attorney-amidst-sec-confidentiality-request/">Binance.US Spruces Up Its Legal Team Amid Heated SEC Battle</a> appeared first on <a rel="nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a></p> 
<p>In a significant development in the ongoing legal battle between cryptocurrency exchange Binance and the U.S. Securities and Exchange Commission (SEC), attorney Andrew Rhys Davies has been granted permission to join the legal team representing <a href="http://Binance Asia-Pacific Head Leon Foong Resigns: Bloomberg Report">Binance.US</a>.</p> 
<p>The move comes as the SEC has filed a confidential motion with the court, leading to speculation about potential money laundering accusations or other undisclosed criminal activities.</p> 
<h2 id="davies-joins-binance-us-legal-team" data-name="davies-joins-binance-us-legal-team" class="wp-block-heading"><strong>Davies Joins Binance.US Legal Team</strong></h2> 
<p>The latest update on August 30 unveils the inclusion of attorney <a href="https://coinpedia.org/crypto-live-news/new-attorney-approved-for-binanceus-in-sec-lawsuit/">Andrew Rhys Davies</a> in the legal defense of BAM Management US Holdings and BAM Trading Services, operators of Binance.US. Judge Amy Berman Jackson’s approval of Davies’ request to participate in the lawsuit “pro hac vice,” allowing an out-of-state attorney to contribute temporarily, underscores the evolving dynamics of the case.</p> 
<p>In accordance with Judge Jackson’s recent order, Davies’ involvement is subject to certain conditions. These conditions entail that either the admitted lawyer or a member from their legal firm undergoes training in CM/ECF (Case Management/Electronic Case Files), secures a username and password for CM/ECF, and commits to filing legal documents electronically.</p> 
<p>Read More: <a href="https://coinpedia.org/news/industry-experts-say-coinbase-and-binance-will-win-against-sec-the-reasons/">Here’s Why Coinbase and Binance Will Win Against the SEC</a></p> 
<h2 id="sec-files-confidential-motion" data-name="sec-files-confidential-motion" class="wp-block-heading"><strong>SEC Files Confidential Motion</strong></h2> 
<p>The SEC’s confidential motion is not yet public, but it is believed to seek permission to file certain documents under seal. This would allow the SEC to keep the information confidential from the public.</p> 
<p>The move has sparked speculation about what the SEC might be hiding. Some experts have suggested that the documents could contain evidence of money laundering or other criminal activity. Others have said that the documents could be related to ongoing investigations by the SEC or other law enforcement agencies.</p> 
<h2 id="the-industry-remains-divided" data-name="the-industry-remains-divided" class="wp-block-heading">The Industry Remains Divided </h2> 
<p>Leading experts hold differing views on the unfolding scenario. While some anticipate a potential resolution between Coinbase, Binance, and the SEC, others, including <a href="https://coinpedia.org/altcoin/xrp-price-surges-higher-than-expected-after-sec-case-attorney-deaton-reacts/">John Deaton</a>, diverge. Deaton notably disagrees with former SEC official <a href="https://twitter.com/JohnReedStark/status/1696514650966212651">John Reed Stark</a> regarding the incorporation of DOJ investigation details in the case. </p> 
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   <p lang="en" dir="ltr">What’s Up With The Secret U.S. SEC Motion Relating to Binance? <br><br>In the U.S. SEC/Binance litigation, the U.S. SEC has filed a sealed motion for leave to file documents under seal, according to an SEC court filing late yesterday. Filing a court document “under seal” allows… <a href="https://t.co/cmx6gdh2so">pic.twitter.com/cmx6gdh2so</a></p>— John Reed Stark (@JohnReedStark) <a href="https://twitter.com/JohnReedStark/status/1696514650966212651?ref_src=twsrc%5Etfw">August 29, 2023</a>
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<p>It is anticipated that the SEC will continue its pursuit of securities-related claims against entities involved in digital assets, such as Impact Theory. As the landscape evolves, it becomes increasingly evident that the government and the SEC are poised to exercise regulatory authority over the decentralized finance (DeFi) sector.</p> 
<p>This May Interest You: <a href="https://coinpedia.org/news/binance-to-cease-busd-operations-by-february-2024-urges-users-to-convert-to-other-stablecoins/">Binance Discontinues BUSD Support in US; Here’s What Users Need to Do</a></p>

Binance.US Spruces Up Its Legal Team Amid Heated SEC Battle

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