Crypto giant Binance said to file protective court order against SEC

Binance, the world's largest cryptocurrency exchange, has filed for a protective court order against the U.S. Securities and Exchange Commission, citing "unduly burdensome" requests for information by the regulator, Reuters reported Tuesday. BAM Trading, the operating company of Binance.US, and BAM Management said the group has already given the regulator adequate information. The SEC in June sued Binance and CEO Changpeng Zhao for allegedly operating illegally in the U.S., among other violations of securities regulations. The protective order is seeking to limit the SEC to four depositions from BAM staffers and to get rid of the deposition of BAM's CEO and CFO, Reuters reported, citing a court filing in the U.S. District Court of Columbia. The SEC, though, has declined such proposals. Binance did not immediately respond to Seeking Alpha's request for comment. More on Binance: Binance granted crypto licenses to operate in El Salvador Cryptos dip after report DOJ is considering fraud charges against Binance Binance;s venture-capital arm puts $10M into DeFi lender Radiant