{"id":24502,"date":"2023-11-14T11:24:59","date_gmt":"2023-11-14T11:24:59","guid":{"rendered":"https:\/\/crowdfundjunction.com\/blog\/court-approves-protective-order-in-sec-vs-binance-lawsuit\/"},"modified":"2023-11-14T11:24:59","modified_gmt":"2023-11-14T11:24:59","slug":"court-approves-protective-order-in-sec-vs-binance-lawsuit","status":"publish","type":"post","link":"https:\/\/crowdfundjunction.com\/blog\/court-approves-protective-order-in-sec-vs-binance-lawsuit\/","title":{"rendered":"Court approves protective order in SEC vs. Binance lawsuit"},"content":{"rendered":"<p><b>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News )<\/b><br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676657153428-73a637d1-fee5-4f29-8020-2c70b27f15cc-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676657153428-73a637d1-fee5-4f29-8020-2c70b27f15cc-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676657153428-73a637d1-fee5-4f29-8020-2c70b27f15cc-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/1970\/01\/1676657153428-73a637d1-fee5-4f29-8020-2c70b27f15cc-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Court approves info disclosure order in SEC vs. Binance lawsuit.<\/li>\n<li>The protective order allows confidentiality for trade secrets and customer info in discovery.<\/li>\n<li>Binance challenges the SEC\u2019s broad demands, protecting proprietary data.<\/li>\n<\/ul>\n<p>A significant development has taken place in the ongoing legal battle between the US Securities and Exchange Commission (SEC) and <a href=\"https:\/\/coinjournal.net\/exchanges\/binance\/\">Binance<\/a> entities, including CEO Changpeng Zhao.<\/p>\n<p>The US court has approved a protective order governing the production, use, and disclosure of information and materials related to the SEC vs. Binance lawsuit.<\/p>\n<h2>Protecting confidential information<\/h2>\n<p>The <a href=\"https:\/\/storage.courtlistener.com\/recap\/gov.uscourts.dcd.256060\/gov.uscourts.dcd.256060.174.1.pdf\">approved protective order<\/a> establishes guidelines for the treatment and disclosure of confidential information generated during the lawsuit.<\/p>\n<p>Parties involved are permitted to designate discovery material as confidential, provided it falls within specific categories defined by the court. These categories include nonpublic trade secrets, proprietary financial information, details about the ownership or control of non-public companies, and non-public customer information, such as customer identities.<\/p>\n<p>The order emphasizes that the confidentiality designation won\u2019t apply universally but only to discovery material that precisely aligns with the court\u2019s stipulations. This move seeks to strike a balance between the transparency required in legal proceedings and the protection of sensitive information.<\/p>\n<h2>Binance\u2019s defence against SEC\u2019s \u201cfishing expedition\u201d<\/h2>\n<p>Binance.US, amidst the legal proceedings, in August 2023 <a href=\"https:\/\/coinjournal.net\/news\/binance-seeks-courts-protection-against-us-secs-probe\/\">sought a protective order against the SEC<\/a>, alleging an unwarranted \u201cfishing expedition.\u201d Binance argued that the SEC\u2019s extensive discovery demands were overly broad and unreasonable. The regulatory body\u2019s requests, Binance claimed, aimed at acquiring every document related to customer assets, posing a potential threat to the company\u2019s proprietary information.<\/p>\n<p>Binance expressed concern over the perceived unlimited authority granted to the SEC, enabling an investigation into all aspects of Binance.US\u2019s asset custody practices without apparent limitations. This legal manoeuvre underscores the importance of establishing clear boundaries in regulatory investigations, preventing overreach and safeguarding the interests of the entities under scrutiny.<\/p>\n<p>As the lawsuit unfolds, the protective order stands as a crucial mechanism ensuring a fair and controlled exchange of information. It reflects the court\u2019s commitment to preserving the confidentiality of sensitive materials while facilitating a thorough examination of the issues at hand in the SEC\u2019s case against Binance entities and CEO Changpeng Zhao.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this article<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p><a href=\"https:\/\/coinjournal.net\/news\/court-approves-protective-order-in-sec-vs-binance-lawsuit\/\">Source link <\/a><br \/>\n<br \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>(Originally posted on : CoinJournal: Latest Bitcoin, Ethereum &amp; Crypto News ) Court approves info disclosure order in SEC vs. Binance lawsuit. The protective order allows confidentiality for trade secrets and customer info in discovery. Binance challenges the SEC\u2019s broad demands, protecting proprietary data. A significant development has taken place in the ongoing legal battle [&hellip;]<\/p>\n","protected":false},"author":7,"featured_media":24503,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[35],"tags":[],"_links":{"self":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24502"}],"collection":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/users\/7"}],"replies":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/comments?post=24502"}],"version-history":[{"count":0,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/posts\/24502\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media\/24503"}],"wp:attachment":[{"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/media?parent=24502"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/categories?post=24502"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crowdfundjunction.com\/blog\/wp-json\/wp\/v2\/tags?post=24502"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}