• The SEC recently filed a sealed motion against Binance involving more evidence.
• BNB has been unable to regain the $300 price range since the June lawsuit.

A significant development occurred on 29 August within the ongoing legal battle between Binance [BNB] and the Security and Exchange Commission (SEC). The SEC introduced a new element to the case with its latest action. 

Read Binance Coin’s [BNB] Price Prediction 2023-24

Notably, a recent court filing revealed that the SEC submitted a motion under seal. This allowed the SEC to present sensitive or private information without disclosing the details. The filing indicated that the SEC’s motion included an extensive collection of over 35 exhibits.

The move by the SEC has triggered a wave of conjecture, and a former staff member of the SEC has provided insights into the potential implications of this maneuver.

Binance in more trouble?

John Reed Stark, a former SEC official, has outlined two potential reasons behind the SEC’s utilization of this uncommon tactic. According to Stark, this tactic might have been employed to prevent interference with the ongoing investigation led by the Department of Justice (DOJ).

The DOJ had previously initiated a lawsuit against Binance, which included allegations of assisting Russians in evading sanctions. 

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Author: Adewale Olarinde

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