The US Securities and Exchange Commission (SEC) has said Binance.US, the US division of crypto exchange Binance, is unwilling to cooperate with the regulator, the agency has said in court.
According to the watchdog, the company has submitted a total of 220 materials as part of disclosure proceedings. However, many of them are "unintelligible screenshots and documents without dates or signatures."
In addition, the SEC has also said the exchange has refused to provide key witnesses to testify.
The document states:
"The Company has responded to requests for relevant communications with blanket objections and has refused to produce documents kept in the ordinary course of its business, claiming those documents do not exist, only for the SEC to later receive such documents from other sources."
In addition, representatives of the regulator have pointed out that Binance.US continues to use the services of its partner, custodian service Ceffu, which violates previous agreements between the parties prohibiting the withdrawal of funds overseas.