‘I Just Want to Keep Things Moving’: Judge Makes No Ruling in SEC-Binance Document Dispute

Judge Zia Faruqui did not make any rulings on the SEC's discovery requests or Binance.US's opposition.

it would be impossible to produce them. “Chasing down exactly how that software works is neither here nor there,” he said.The judge said Binance needs to provide more information about its current custody solution: “I think we need more than we’ve got right now,” adding as an aside that he wasn’t “super confident that BAM has total control of their assets.”

SEC attorney Jennifer Farer said part of the issue is “we don’t know what we don’t know,” in arguing that the regulator needed large amounts of information about“That is foolishness. It’s not serious litigation,” Martens said later on in the hearing. In June, the SEC sued Binance and founder Changpeng “CZ” Zhao, accusing them of running an unlicensed securities exchange. Since then, the regulator has been working to ensure that assets from U.S. customers would stay in the U.S.

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