In the latest development in the U.S. Securities and Exchange Commission (SEC) lawsuit against Binance and CEO CZ and subsidiary Binance.US, the judge approves amicus briefs of Administrative Law Scholars and New Finance Institute. The experts believe the parties will settle the lawsuit as Binance.US and the SEC disputes are likely over, while Binance seeks to dismiss the lawsuit.
Judge Approves Amicus Briefs Of Administrative Law Scholars and New Finance Institute
According to a court filing late November 20, Judge Amy Berman Jackson has granted an order approving motions by amicus briefs of Administrative Law Scholars and New Finance Institute.
Both Administrative Law Scholars and New Finance Institute filed in support of the SEC opposing Binance and Binance.US’ motion to dismiss the lawsuit. The amici believe their arguments will offer the court a novel and distinctive viewpoint.
NFI is also an amicus curiae in the Coinbase lawsuit and currently seeking additional time in allotted four-hour arguments in the lawsuit, saying that their arguments are distinct from the SEC. Coinbase and the SEC believe the arguments and positions stated by the amici are adequately outlined in the briefs.
Binance Vs SEC Moving In Agreement
CoinGape Media reported that Binance and SEC have filed a joint motion for a protective order concerning confidential details produced as per the June 17 consent order, indicating the disputes related to document discovery and depositions between the parties are nearly over and things are moving smoothly again.
Judge Amy Burman Jackson set a public hearing for January 19 on a Binance.US motion to dismiss, supported by Binance and CEO Changpeng ‘CZ’ Zhao. The hearing will be crucial for the summary judgment or a settlement in the lawsuit.
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