U.Today - It has been weeks since the United States Securities and Exchange Commission (SEC) filed its lawsuit against renowned crypto trading platform Binance exchange, and with the case progressing forward, former official of the commission John Reed Stark has a number of new insights into the probable twists that can be expected as the lawsuit unfolds.
Twist in sealed motion
One of the biggest intrigues recorded is the request to seal up some documents in a secret motion that has gotten a number of experts wondering why the regulator would make such a rare move.To Stark, one of the few strategic reasons why the SEC may request to seal its evidence and findings is because of any probable criminal investigation that might have been against Binance exchange by agencies like the Department of Justice (DoJ).
Per earlier reports, the DoJ has been Binance exchange for some criminal operational matters, and irrespective of the strong case from the SEC, the evidence has to be under seal in order not to jeopardize other enforcement actions.
Stark also believes the SEC might have made a request for motion sealing if it perceives that failure to do so could put a witness at risk. As the former SEC boss noted, the case is hard to decipher, but Binance may not oppose the move to seal some documents in order to prevent any form of chaos that may trail any damning discovery into its operations.