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**BinanceÔÇÖs U.S. Entity Resists RegulatorsÔÇÖ Requests Amidst legal Battle**

In an ongoing legal dispute, Binance’s U.S. subsidiary, BAM Trading, is pushing back against regulators’ requests for access to its business records. This move escalates the conflict over the company’s internal documents, as revealed in a court filing on Monday.

BAM Trading’s legal representatives claim that the document requests made by the U.S. Securities and Exchange Commission (SEC) are overly broad and impose significant inconvenience on the exchange. The SEC’s intention is to gather evidence for its case against BAM, which it sued in June for allegedly operating an unregistered securities exchange.

According to the court filing, BAM’s lawyers argue that the SEC’s requests are vague, ambiguous, overly burdensome, and lack particularity, giving rise to their objection. The regulators have sought a wide range of documents from BAM, including records related to customer asset management, financial statements, and overall financial health. However, BAM has allegedly chosen to ignore these requests, as claimed by the SEC.

One specific request made by the SEC pertains to the alleged utilization of a custodying service called Ceffu by the exchange, which supposedly facilitated the transfer of funds from U.S. customers abroad, contradicting the terms of their agreement.

BAM’s legal team maintains that complying with the SEC’s requests would be unduly burdensome, imposing significant expenses on the company. Furthermore, they assert, some of the demanded documents either do not exist in the exchange’s possession or are irrelevant to the SEC’s investigation.

Understandably, it is not unusual for firms facing federal agency investigations to resist information requests on the grounds of being overly broad or burdensome for their workforce. Although such pushback may not always succeed, it can result in substantial delays in legal proceedings.

However, despite BAM’s resistance, regulatory authorities do not seem inclined to relent on their demands. Earlier on Monday, the SEC lodged a complaint, alleging that BAM deliberately delayed the production of documents and hindered the agency’s investigation into the exchange’s custodying practices regarding customer assets.

**How AI legalese decoder can assist in this situation?**

AI legalese decoder can prove to be an invaluable tool in the ongoing legal battle between BAM Trading and the SEC. As BAM’s lawyers object to the perceived vagueness, ambiguity, and overbreadth of the SEC’s document requests, the AI legalese decoder can help analyze the language used in the legal texts to identify specific requirements and information sought by the regulator.

By using Natural Language Processing and Machine Learning algorithms, the AI legalese decoder can help BAM Trading’s legal team in comprehending and assessing the legitimacy of the SEC’s document requests more efficiently. It can break down complex legal jargon, pinpoint crucial details demanded by the regulator, and provide insights into potential areas of non-compliance.

Additionally, the AI legalese decoder can save valuable time and resources by highlighting documents that may be outside the scope of the SEC’s investigation, eliminating the need for unnecessary searches and potential delays. It can streamline the process of identifying relevant documents, enabling BAM to focus on fulfilling the genuine requirements of the regulatory authorities promptly.

Overall, the AI legalese decoder can improve the efficiency and effectiveness of BAM Trading’s response to the SEC’s document requests, aiding in navigating this challenging legal battle while minimizing the inconvenience and expenses associated with information retrieval.

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