TechFlow reported, according to Coindesk, the Securities and Exchange Commission (SEC) accused Binance.US of failing to cooperate with its investigation, stating in court filings released on Thursday that the company's staking, settlement, and brokerage services violate federal securities laws.
U.S. federal regulators are concerned that Binance.US’s use of Ceffu for custody services breaches a prior agreement designed to prevent assets from flowing overseas, and they fear assets may be transferred abroad.
The SEC said Binance.US’s parent company, BAM, provided only about 220 documents, many of which were unclear screenshots and documents lacking dates or signatures.
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