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 <h2 id="binanceus-to-delay-financial-reporting-to-the-us-sec">BinanceUS to Delay Financial Reporting to the US SEC</h2> 
 <p>Binance.US filed a motion for an extension of time to submit verified accounting details to the US SEC, according to a filing in the District Court for the District of Columbia.</p>  
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 <p>According to a consent order signed by Judge Amy Jackson in June, BAM Management US Holdings and BAM Treading Services are ordered to share a detailed financial statement. It includes records of business expenses and estimated costs from December 1, 2022 to the date of the accounting, with the US SEC in the next few weeks.</p> 
 <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> believes the regulatory action in the US is mainly to target the crypto exchange and its entities. Also, accounting firms are reluctant to work with crypto firms amid intense scrutiny from regulators, especially after the FTX crisis.</p> 
 <p>As CoinGape Media reported, the proposed agreement allows only <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US employees to access customer funds on the US-based crypto exchange. <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> Global officials are restricted from having access to private keys of all wallets including cold and hot wallets, hardware and software, as well as <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.US’s internal systems and controls within 14 days.</p>  
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 <p><strong>Also Read: SEC’s Crypto Conflict Details Surface, Exposing Bias Against Ripple (XRP)</strong></p> 
 <h2 id="significance-of-judge-torres-ripple-ruling-in-binance-lawsuit">Significance of Judge Torres’ Ripple Ruling in Binance Lawsuit</h2>  
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 <p>Judge Torres’ summary judgment ruling in <em>US SEC v. Ripple Labs</em> is a landmark decision for the crypto industry and enforcement actions by US SEC. Interestingly, Coinbase also looks to file a motion to dismiss the SEC lawsuit, which is mostly similar to the lawsuit against <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>.</p> 
 <p><a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a> has filed a motion to dismiss the US CFTC lawsuit,&nbsp;claiming that it lacks jurisdiction on the global crypto exchange. The response by the CFTC is due on September 22.</p> 
 <p>Meanwhile, Judge Jackson seems to consider Judge Torres’ Ripple ruling in the <a rel="noopener noreferrer nofollow" title="Binance" href="https://thebittimes.com/tag/binance.html">Binance</a>US lawsuit after Judge Rakoff rejects the ruling in the <em>US SEC v Terraform Labs</em> lawsuit.</p> 
 <p><strong>Also Read:</strong></p> 
 <ul> 
  <li>Judge Jackson Cites Ripple Ruling In Binance Vs US SEC Lawsuit</li> 
  <li>US SEC’s Approval Of Ethereum ETF More Likely Than Bitcoin ETF: Bloomberg</li> 
  <li>Binance Announces Shiba Inu As Collateral Asset, Shibarium’s BONE Listing Coming?</li> 
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Binance Vs SEC News: BinanceUS Files Motion In Response To Earlier Deal With SEC

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