According to a court document from Sept. 14, the SEC has accused Binance.US of not cooperating with its ongoing investigation into the crypto exchange.
The SEC claims that Binance.US’s parent company, BAM, has only provided 220 documents during the discovery phase, many of which are illegible screenshots or unsigned and undated papers.
The SEC also alleges that BAM has denied access to key witnesses for questioning, and only agreed to four interviews with witnesses that it selected.
Furthermore, the SEC has expressed doubts about Binance.US’s use of Ceffu, a wallet custody software supplied by Binance Holdings Ltd., the global entity of Binance.
The SEC says that BAM has given contradictory statements about Ceffu’s and Binance’s roles in managing the wallet and customer funds.
The SEC argues that Binance.US’s use of Ceffu may breach a previous agreement that was meant to prevent money from being transferred overseas.