BinanceUS Gains New Attorney Amid SEC Lawsuit Developments

A federal magistrate has approved a new attorney for BinanceUS in the U.S. Securities and Exchange Commission (SEC) lawsuit against Binance, Binance.US, and CEO Changpeng “CZ” Zhao.

In the meantime, the SEC seeks a court order to file a ‘document under confidentiality’, which experts believe pertains to allegations of money laundering or other potential criminal conduct.

Attorney Andrew Rhys Davies has filed a notice of appearance on behalf of BAM Management US Holdings and BAM Trading Services (Binance.US), according to a new filing in the Binance v. US SEC lawsuit on August 30.

The motion by Davies to appear pro hac vice in the lawsuit has been granted by Judge Amy Berman Jackson. According to a previous order, Judge Jackson required Davies to file a notice of appearance to participate in the Binance v. SEC case.

The attorney reportedly joins BinanceUS as it seeks a protective order from the court in response to the SEC’s violation of the consent order.

Judge Amy Jackson referred the protective order motion from Binance.US to Magistrate Judge Faruqui for resolution. In the meantime, the SEC has filed sensitive or private information in the lawsuit.

“MINUTE ORDER granting 99 Motion for Leave of Andrew Rhys Davies to Appear Pro Hac Vice only upon condition that the lawyer admitted, or at least one member of the lawyer’s firm, undergo CM/ECF training, obtain a CM/ECF username and password, and agree to file papers electronically.”

The securities regulator is likely to intensify its action against the world’s largest cryptocurrency exchange and its U.S.-based subsidiary for blatantly disregarding the previously agreed-upon agreement.

John Reed Stark, a former SEC enforcement official, believes the SEC may disclose a criminal investigation or prosecution of Binance by the U.S. Department of Justice.

Additionally, it could put a witness or business at risk. However, these are merely assumptions, and the specifics will remain confidential.