In the latest development in the Binance vs U.S. Securities and Exchange Commission (SEC) lawsuit, attorney Andrew Rhys Davies has filed a motion to appear pro hac vice in the case. The attorney comes in as BinanceUS seeks protective order from the court in response to the SEC’s exceeding the agreed-upon consent order.
Attorney in Support of Binance in the SEC Lawsuit
According to a new filing in the Binance vs US SEC lawsuit dated August 22, attorney Andrew Rhys Davies has filed a motion for leave to appear pro hac vice. The lawyer has come in support of BAM Management US Holdings and BAM Trading (Binance.US).
As per the declaration, Andrew Rhys Davies is an attorney of the law firm Wilmer Cutler Pickering Hale & Dorr LLP (WilmerHale). He has experience in cross-border cases involving securities, banking, and financial regulation.
Meanwhile, Judge Amy Jackson has referred the protective order motion by Binance.US to Magistrate Judge Faruqui. BinanceUS argues the SEC is exceeding the agreed-upon consent order, requests the court for an order to preclude depositions of BinanceUS’ CEO and CFO, and reject SEC’s demands that have nothing to do with the case.
Binance eagerly tries to reduce the SEC’s influence on the digital asset industry. Coinbase, Ripple, and Binance have filed motions to dismiss their lawsuits, claiming that the SEC and CFTC are acting outside its regulatory oversight and jurisdiction. Crypto investors argue that the SEC’s enforcement actions have harmed them rather than protected them.
Also Read: Amicus Curiae Appearance Filed In Coinbase Vs US SEC Lawsuit
Former SEC Official Predicts Outcome
Former SEC chief John Reed Stark’s prediction that Judge Jackson will refer Binance’s motion for a protective order to Magistrate Judge Faruqui for resolution comes out true. Stark believes the Judge will order Binance to provide most of what the SEC requests. However, the judge may eliminate some duplicative or obviously overly broad requests. He thinks DOJ lawsuit is imminent and it will be most impacting for Binance.
CoinGape Media reported that the U.S. Department of Justice (DOJ) alleges Binance for violating the US sanctions on Russia. Stark believes the DOJ is likely to bring a lawsuit against Binance.
Also Read: Ripple Executives Notify Court About Their Unavailability During Bitcoin Halving
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
