Binance.US, the U.S.-basically basically basically based subsidiary of crypto replace Binance, has opposed a motion from the U.S. Securities and Change Commission (SEC) for added paperwork in a lawsuit filed by the regulator alleging the crypto replace violated securities licensed pointers.

In courtroom paperwork filed on Sept. 12, Binance.US attorneys argued that the SEC’s requests for paperwork were “overly broad, unduly burdensome” and “beyond the scope of the consent uncover.”

“Diversified than the SEC’s suggestions that something untoward would possibly perhaps well presumably silent be occurring, there would possibly perhaps be neither any proof nor any indication that extreme records relative to the safety of buyer assets is come what would possibly perhaps well being hidden or obfuscated or, more importantly, that assets would possibly perhaps be or were diverted,” said the attorneys.

They extra claimed that several of the categories of paperwork that the SEC is in search of own both already been produced, or salvage no longer exist.

Thru the four months of expedited discovery that Binance.US has fulfilled its obligations on, the regulator has “but again and but again acknowledged” that after a multi-365 days investigation, it has no proof that buyer funds were misused in any diagram, the attorneys said.

Earlier this 365 days, the SEC alleged that Binance CEO Changpeng Zhao and Guangying ‘Helina’ Chen, a Binance govt that would possibly perhaps well presumably very effectively be a signatory on several of the replace’s bank accounts despite preserving no official title at the replace, got billions of bucks rate of buyer funds thru their preserving firm.

In a June courtroom listening to, a identify but again and but again requested the SEC for proof that U.S. money had been transferring out of the replace, but attorneys for the regulator conceded that they were “no longer seeing any money flows out of doors of the United States.”

Despite the complaints in courtroom, the SEC place out a statement shortly after, which urged that Binance.US’ buyer assets were in hazard.

Even if it has transitioned into a “crypto-most attractive” replace, Binance.US silent saw $23 million rate of procuring and selling quantity over the last day, while its parent firm, Binance, remains the field’s greatest crypto replace with a day-to-day procuring and selling quantity of $6.4 billion.