Lisa Bragança, former SEC enforcement branch chief and Bragança Law attorney, reacts to Judge Zia Faruqui making no rulings on the SEC's discovery requests or Binance.US's opposition.
The kerfuffle here. Um And, and certainly the judge, I think kind of did a Taylor swift move of like y'all need to calm down like this. This has gone over the top. Um that I think the, the SEC has an expectation when it goes into litigation that it's already done its investigation. You know, the staff is done, they've presented to the commission, they've gotten authority. So why is anybody in their way, they should be able to get everything that they ask for and when they go up against a really big player with deep pockets like finance, they get pushback and they got some legitimate pushback here. I mean, this was all about exp expedited discovery about um issues addressed in the consent order which was entered in, in lieu of instead of a temporary restraining order. So this was negotiated, the language there talks about, you know, we have to, we the sec are entitled to know about the safety and security custody of these assets in the wallets. And then it appears the SEC has kind of gone on a frolic and detour kind of seeking to get lots and lots of other discovery