The American branch of Binance has sent a petition to limit the flow of data to the regulator

The subsidiary branch of Binance is Binance.US has sent a petition. It calls for limiting the SEC regulator with regard to cryptocurrency exchanges. This is written by Reuters.

What the document says

The applicants noted that the regulator demanded to provide information on too large a scale. They were also overly burdensome.

BAM Trading, which is owned by Binance and is responsible for operations, as well as BAM Management indicated in the lawsuit that they provided the regulator with all the required data.

The petition concerns the limitation of the department to 4 statements by employees of the above companies. They asked to cancel the testimony of the head and financial director of BAM.

The statement indicates that the agency still needs to find some evidence that would confirm that the users' funds were used for other purposes.

Recall that in early summer, the agency decided to file a lawsuit against Binance and its head. A total of 13 charges have been brought. The next day, the regulator demanded the blocking of cryptocurrencies in the American branch of the site.

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