thecryptobasic.com
The lawyers disclosed that the court would hold a hearing for the SEC’s temporary restraining order against Binance on June 13.
Pro-XRP lawyer Bill Morgan and pseudonymous attorney MetaLawMan have shared an important date regarding the ongoing SEC vs. Binance lawsuit.
Recall that after the SEC charged Binance and its founder Changpeng Zhao (CZ) with violating federal securities laws, the commission asked a federal court to issue a temporary restraining order to freeze the exchange’s US assets.
In a series of tweets, the pro-XRP lawyers disclosed that Binance’s response to the SEC’s requests is due on June 12, 2023. Interestingly, the hearing is scheduled for June 13, 2023, at 2 PM.
The @Binance case is on the move.
The Defendants must respond to the SEC's Motion for a Temporary Restraining Order on Monday, June 12.
The hearing on the TRO will take place on June 13 at 2 pm.
I expect the judge will rule quickly, possibly at the conclusion of the hearing. https://t.co/29K7IFR7Jv
— MetaLawMan (@MetaLawMan) June 7, 2023
The hearing will occur in US District Court for the District of Columbia in Courtroom 3 before Judge Amy Berman Jackson.
MetaLawMan stressed that he expects Judge Jackson to issue a decision on the matter swiftly, noting that the Judge will likely rule on the case at the end of the June 13 hearing.
June 13: A Monumental Day for Crypto
Meanwhile, Attorney Morgan highlighted the significance of June 13 for the crypto industry. He pointed out that June 13 has already been assigned as the possible date for the public release of Hinman’s docs, the drafts of William Hinman’s speech on cryptocurrencies, in which he declared Bitcoin (BTC) and Ethereum (ETH) as non-securities.
The Binance response to the motion of the SEC for temporary restraining orders is due on 12 June and the hearing on 13 June. A monumental day for crypto. The day the Hinman documents are to be released, the day the House Financial Service Committee discusses the future of /1 pic.twitter.com/a8amTNnlVG
— bill morgan (@Belisarius2020) June 8, 2023
Furthermore, Attorney Morgan also pointed out that June 13 is scheduled for a Congressional hearing on cryptocurrency legislation.
“I think there is something else that day too. I can’t keep up. There may need to be a mega Twitter space to discuss it all,” Attorney Morgan added.
Gensler Reportedly Offered to be Binance Advisor in 2019
It is worth noting that the SEC resumed its enforcement actions against crypto exchanges by suing Binance earlier this week. Less than 24 hours after suing Binance, the SEC filed a lawsuit against San Francisco-based exchange Coinbase.
However, the regulator did not seek an order to freeze Coinbase’s assets the same way it is requesting to freeze the assets of BinanceUS. This development has stirred controversies within the crypto community.
In an interesting development, CNBC reported today that SEC Chair Gary Gensler offered to serve as an advisor in Binance as of March 2019. At the time, Gensler was lecturing at the Massachusetts Institute of Technology’s Sloan School of Management.
The report added that the SEC boss also met with CZ in Japan later that month. However, Gensler did not become an advisor to Binance as he was appointed SEC Chair in 2021.
Since his appointment, Gensler has embarked on a widespread crypto crackdown, suing several crypto companies for allegedly selling unregistered securities.