The post <a rel="noopener noreferrer nofollow" href="https://coinpedia.org/news/binance-vs-sec-crucial-dates-to-watch-in-binances-legal-saga-with-the-sec-and-cftc/">Binance vs SEC: Crucial Dates to Watch in Binance’s Legal Saga with the SEC and CFTC</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinpedia.org">Coinpedia Fintech News</a> 
Binance.US has filed a motion to respond to <a href="https://coinpedia.org/news/binance-vs-sec-magistrate-judge-faruqui-rules-on-protective-order/" rel="noopener noreferrer nofollow">Magistrate Judge Zia M. Faruqui’s order </a>concerning the U.S. Securities and Exchange Commission’s (SEC) motion to compel. The motion was filed on <a href="https://www.courtlistener.com/docket/67474542/securities-and-exchange-commission-v-binance-holdings-limited/#entry-119" rel="noopener noreferrer nofollow">September 22</a> by BAM Management US Holdings and BAM Trading Services, the entities behind Binance.US. This comes as a strategic countermove against the SEC’s claim that Binance.US has failed to cooperate in accordance with an earlier agreed consent order. 
The essence of this legal maneuver is to buy Binance.US more time to respond to the SEC’s allegations properly. An approval would give them the much-needed time against the regulator’s motion to compel them to release specific documents. 
<h2 class="wp-block-heading" id="h-binance-us-claims-sec-overreach">Binance.US Claims SEC Overreach</h2> 
Binance Holdings Limited and CEO Changpeng “CZ” Zhao have been vocal that the SEC lacks the authority to make these claims. They argue that the allegations are based on unclear premises and that the SEC has failed to prove that the crypto assets are indeed securities. 
While the courtroom battles unfold, Binance.US’s trading volume has been <a href="https://coinpedia.org/news/unpacking-binances-legal-troubles-crypto-expert-list-the-red-flags-around-the-exchange/" rel="noopener noreferrer nofollow">severely impacted</a>. The exchange saw its trading volume drop from $5 billion to $40 million amid this regulatory pressure. 
<a href="https://coinpedia.org/news/binance-vs-sec-key-dates-ahead-in-legal-challenges/" rel="noopener noreferrer nofollow">Key Dates Ahead for Binance</a> 
<ul> 
 <li>October 23, 2023: Deadline for Binance to respond to the CFTC’s September 22 filing.</li> 
 <li>November 7, 2023: The SEC will reply to Binance’s plea for dismissal.</li> 
</ul> 
Initially, the CFTC filed a lawsuit against Binance in March. This case alleges that Binance offered unregistered derivatives products and failed to implement a robust KYC or AML program. In parallel, the <a href="https://coinpedia.org/news/sec-files-sealed-motion-against-binance-exchange/" rel="noopener noreferrer nofollow">SEC</a> filed its lawsuit, focusing on Binance’s offering of investment products like “BNB Vault” and “Simple Earn” without proper registration. 
The <a href="https://coinpedia.org/news/binance-exchange-faces-legal-trouble-doj-investigates-sanctions-violations/" rel="noopener noreferrer nofollow">Department of Justice (DoJ)</a> is also circling, accusing Binance of allowing Russian customers to access its platform, violating U.S. sanctions tied to Russia’s actions in Ukraine. 
&nbsp;If Binance succeeds in its <a href="https://coinpedia.org/news/binance-aims-to-replicate-ripples-legal-success-against-sec/" rel="noopener noreferrer nofollow">legal battles</a>, it might pave the way for a more accommodating regulatory environment. However, a loss on either front could signify a domino effect, opening the floodgates for further regulatory action against other crypto platforms.

Binance vs SEC: Crucial Dates to Watch in Binance’s Legal Saga with the SEC and CFTC

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