The U.S. SEC accuses Binance.US of not cooperating with the investigation

ChainCatcher news, according to CoinDesk, Binance.US is accused of not cooperating with the SEC's investigation. The SEC stated that the company's staking, settlement, and brokerage services violate federal securities laws. U.S. federal regulators are concerned that the custody services provided by Ceffu, used by Binance.US, violate previous agreements aimed at preventing assets from flowing overseas. They are also worried about assets being transferred abroad.

The SEC stated that during the discovery process, Binance.US's parent company BAM provided "approximately 220 documents, many of which are difficult to understand screenshots and documents without dates or signatures."

In a filing submitted on September 12, Binance.US described the regulators' concerns about Ceffu as "much ado about nothing," and their request for more documents as a "futile fishing expedition." Binance.US stated that merely creating wallets through Ceffu does not mean that the company's international division can custody or access customer funds.