The U.S. Securities and Exchange Commission (SEC) has accused Binance of a “lack of transparency” during its investigation into the crypto exchange.

In a court filing dated Sept. 14, the U.S. Securities and Exchange Commission (SEC) alleged that Binance US’s holding company, BAM, has so far produced only 220 documents during the discovery process, including “unintelligible screenshots and documents without dates or signatures.”

The SEC filed a lawsuit against Binance on June 5, leveling 13 charges against the platform, including breaking U.S. securities laws, failing to restrict U.S. investors from accessing Binance.com, and operating as an unregistered exchange, broker, and clearing agency.

The SEC turns its gaze on Ceffu

In the court filing published yesterday, the SEC raised concerns about customer assets falling under the control of Ceffu, a wallet custody software service owned by the exchange’s international entity Binance Holdings Ltd.

According to a previous agreement, the assets were supposed to be “solely in BAM’s custody and ‘complete control’ in the United States,” and not shared with other Binanc

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Author: Mattis Meichler

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