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The US Securities and Exchange Commission (SEC) has complained about the lack of cooperation from Binance.US, the regulated crypto exchange arm of Binance.

Per a court filing by the regulator, Binance.US has not fully cooperated as expected in an investigation the agency is conducting regarding investor safety and protection.

SEC says in documents filed at the United States District Court for the District of Columbia that it’s “good faith attempts” to get needed information from the defendants have been largely unsuccessful. In the regulator’s words, Binance.US has refused to comply with the consent order agreed with at the court on June 17, 2023.

Per the order, the defendants agreed to avail “expedited discovery and other relief relating to the custody, security, and availability” of the assets of US customers. In its complaint, the SEC claims nothing has essentially changed from when it first applied for the court’s relief.

The SEC’s filing reads in part:

“While the SEC is mindful of seeking the Court’s intervention, immediate production of the requested discovery is essential to determine not only whether Customer Assets are being safeguarded in the manner agreed to by the parties and contemplated by the Court in the Consent Order, but whether it may be appropriate for the SEC to seek an order to show cause why BAM should not be held in contempt of that Order.”

According to the regulator, Binance.US needs to provide the information and other critical assurances that its customers’ assets “are not at the mercy” of the parent company Binance and its CEO Changpeng Zhao.

The SEC filed a lawsuit against Binance in June. Meanwhile, yesterday’s filing comes at a time Binance and Binance.US have both seen a series of exits of top officials. These includes Binance.US CEO Brian Shroder and Head of Legal, Krishna Juvvadi.

The post SEC: Binance.US is refusing to cooperate with investigators appeared first on Invezz.

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