The U.S. District Court allowed the SEC to exceed standard page limits in its response to motions filed by the defendant in the Binance lawsuit.
Binance Lawsuit: The U.S. Securities and Exchange Commission (SEC) has been granted permission by a district court to submit an omnibus brief in response to the lawsuit’s dismissal.
The motion was submitted in response to requests from Binance, Changpeng Zhao, and Binance US to dismiss the amended complaint. The court’s decision regarding the complaint’s dismissal is still pending.
US SEC May Continue Binance Lawsuit Briefing
Citing the intricacy of the motions, which include numerous legal arguments, the US SEC had asked for permission to go over the normal page limit under local regulations.
The request was granted by Judge Amy Jackson, enabling the SEC to submit a combined answer that is no longer than 70 pages long.
According to the district court filing, this extension gives the SEC more time to respond to the legal arguments made by both groups of defendants in the ongoing Binance action.
As of right now, the dismissal motions submitted by Changpeng Zhao, BAM Trading Services Inc., and Binance Holdings Limited are void.
Early in November, the defendants submitted separate motions to have the SEC’s amended complaint dismissed.
Binance contended that the SEC’s 90-page submissions contained legal points that overlapped.
However, to encourage judicial efficiency and prevent duplication across several filings, the SEC said it will combine all of the responses into a single document.
After the court order, the SEC will be permitted to submit a joint response, even though Local Rule 7(e) permits 45 pages per response short.
The deadline for the SEC’s answer is December 4. BAM and Binance have both stated that they do not object to the SEC’s request.
The U.S. District Court extended the Binance case until 2026 with a scheduling order last month.
Will BNB Coin Reach New All-Time High Soon?
Following Donald Trump’s victory, the rest of the cryptocurrency market saw a huge jump, but because of the recent legal ruling, Binance’s native BNB Coin hasn’t moved much.
The BNB bulls, however, are maintaining the line at the critical $600 support level.
The price of BNB is down 1.5% at $620 as of this writing, and its market value is below $90 billion.
However, after retesting the support at $600 earlier today, which indicated the way to a new all-time high, BNB reversed the course.
According to CoinGape, researchers predict that BNB Coin (BNB) will rise 150% from here if the current market trend continues.
According to BNB derivatives data, options trading volume increased 47% to $1.15 million, while open interest remained unchanged at $911 million.
Additionally, according to Coinglass statistics, the BNB long liquidations have risen above $2.16 million in the latest decline.
