SEC Claims Binance.US 'Unwilling To Answer' Key Questions, Seeks Court Intervention

Binance has taken a severe hit since crypto markets collapsed and regulators began probing the legality of its business. (Credit: AFP)

The U.S. Securities and Exchange Commission (SEC) and Binance.US' parent company, BAM Management Us Holdings, clashed in a joint status report submitted to a Washington, D.C. District Court on Tuesday as both sides made contradicting claims over the discovery process.

In the status report, the regulator claimed that Binance.US has "been unable or unwilling to answer" some "key questions" that should support the expedited discovery, which is the formal process wherein parties to a case exchange information to gather evidence related to the case.