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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities
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Breaking News: Major Win For Memecoins: SEC Affirms They Typically Do Not Qualify As Securities

Court Says Yes To Binance Request In Case Against SEC

Scott Matherson
Scott Matherson
1 year ago
3 mins read
Binance SEC

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In a new development in the ongoing case between crypto exchange Binance.US and the Security and Exchange Commission (SEC), the Court has approved Binance’s request for a new attorney. Following approval from Judge Amy Jackson, attorney Andrew Rhys Davies can now appear in court for Binance.US.

Approval From US Judge

According to a previous filing, attorney Andrew Rhys Davies had initially filed to represent Binance pro hac vice in the lawsuit. However, the federal judge had asked Davies to file a notice of appearance. 

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In the latest filing details on August 30, Davies filed a notice of appearance for BAM Management US Holdings and BAM Trading Services – the company behind Binance.US. 

Granting the motion would mean Davies can now represent Binance in court pro hac vice, as the attorney is not licensed to practice in the jurisdiction. The pro hac vice is usually applied when an attorney who has not been admitted to practice in a certain jurisdiction can participate in a particular case in the jurisdiction. 

Davies’ addition to Binance’s legal team comes with years of experience in cross-border cases involving securities, banking, and financial regulation. 

“MINUTE ORDER granting 99 Motion for Leave of Andrew Rhys Davies to Appear Pro Hac Vice only upon condition that the lawyer admitted, or at least one member of the lawyer’s firm, undergo CM/ECF training, obtain a CM/ECF username and password, and agree to file papers electronically,” the court approval document read.

Binance Coin (BNB) price chart from Tradingview.com (SEC)

BNB ranging $224 as market recovers | Source: BNBUSDT on Tradingview.com

Details Of The SEC – Binance.US Lawsuit

The ongoing lawsuit between crypto exchange Binance and the SEC has dragged on for a while, with both parties filing different motions. In its latest move, the SEC filed a motion for leave to file documents under seal in the ongoing case. 

According to law experts, this could imply that the filing was made to protect details of a criminal investigation into Binance. Additionally, it could have also been filed to protect the safety or identity of a witness or company involved in the case.

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Binance also previously filed a protective order motion against the SEC. Details of the court filing show that the exchange wanted relief from the regulators’ “fishing expedition” and requests for communications that have become “overboard.” 

However, Federal Judge Amy Jackson has since passed on the protective order motion to Magistrate Judge Faruqui. 

The crypto industry is closely watching how the SEC vs. Binance case unfolds as the outcome could set a precedent for how the regulator approaches the entire crypto industry.  

Featured image from Unsplash, chart from Tradingview.com
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Scott Matherson
Scott Matherson

Scott Matherson

Scott Matherson is a prominent crypto writer at NewsBTC with a knack for capturing the pulse of the market, covering pivotal shifts, technological advancements, and regulatory changes with precision. Having witnessed the evolving landscape of the crypto world firsthand, Scott is able to dissect complex crypto topics and present them in an accessible and engaging manner. Scott's dedication to clarity and accuracy has made him an indispensable asset, helping to demystify the complex world of cryptocurrency for countless readers.

Read more

Scott’s experience spans a number of industries outside of crypto including banking and investment. He has brought his vast experience from these industries into crypto, which allows him to understand even the most complex topics and break them down in a way that is easy for readers from all works of life to understand. Scott’s pieces have helped to break down cryptocurrency processes and how they work, as well as the underlying groundbreaking technology that makes them so important to everyday life.

With years of experience in the crypto market, Scott began to focus on his true passion: writing. During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott’s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry.

Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors.
In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else.

Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies.

Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.

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