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 <p>Lawyers for Binance.US (BAM) hit out at the Securities and Exchange Commission (SEC), calling requests to depose some of its senior executives and further discovery ”unreasonable.”</p> 
 <p>Binance.US filed a response to the court on Sept. 12 after the SEC demanded further discovery and requested depositions from BAM CEO Brian Shroder and CFO Jasmine Lee. BAM said the requests were ”unduly burdensome” and ”freewheeling.”</p> 
 <p>“The SEC still has no evidence to support its unsubstantiated allegations that imply investor assets have been somehow diverted,” it said. “All the evidence in this matter—including documents, declarations, and sworn deposition testimony—supports BAM’s position that it has custody and control of its digital assets.”</p> 
 <p>The SEC had alleged in June that Binance founder Changpeng Zhao and others had siphoned off billions of dollars of customer funds via intermediary companies. It cited evidence based on testimony from an SEC accountant.</p> 
 <blockquote class="twitter-tweet" data-width="550" data-dnt="true"> 
  <p lang="en" dir="ltr">BREAKING: 🇺🇸 SEC sues #Binance and CEO Changpeng Zhao, citing US securities law violations.</p> 
  <p>— Watcher.Guru (@WatcherGuru) June 5, 2023</p> 
 </blockquote> 
 <p></p> 
 <h3 id="binance-us-says-it-offered-other-executives-for-depositions">Binance.US Says It Offered Other Executives For Depositions</h3> 
 <p>The lawyers also said the SEC’s requests are overly broad and beyond the scope of an earlier consent order. They added that the depositions from Shroder and Lee were requested without providing any evidence that the two executives are involved in the daily management of customer assets and their transfer or custody.</p> 
 <p>The lawyers also said that the CEO and the CFO do not possess unique knowledge regarding the relevant topic and said BAM had offered numerous other executives with relevant knowledge of the operations, including Erik Kellogg, BAM’s chief information security officer.</p> 
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/binance-us-says-sec-requests-to-depose-senior-executives-are-unreasonable-and-unduly-burdensome-tbt62446.html">https://thebittimes.com/binance-us-says-sec-requests-to-depose-senior-executives-are-unreasonable-and-unduly-burdensome-tbt62446.html</a></p>

Binance.US Says SEC Requests To Depose Senior Executives Are ‘Unreasonable’ And ‘Unduly Burdensome’

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