Binance CEO CZ has rejected the SEC’s allegations, stating that their US division had never used the custody service previously known as Binance Custody, now known as Ceffu.
He has criticized the regulator for making false claims and urged them to conduct a proper investigation before making such accusations.
Despite the SEC’s continued concerns about Ceffu’s involvement in managing client assets, the court has denied their request for additional information from Binance.US.
The exchange’s holding company BAM has also been accused of stalling the disclosure of requested documents.
Binance has pushed back against the SEC’s requests, considering them to be overly broad and unreasonable.