If the SEC wins the case, which is expected to extend beyond Gensler’s term, Binance could face hefty fines, operational restrictions, and strict oversight of its BNB token. (BAM Management and BAM Trading) is not adequately separating its wallets, systems, and personnel from Binance. The SEC has expressed concerns that Binance U.S. Both parties have agreed to disclose numerous SEC filings from last month. On September 15, the SEC moved to unseal or withdraw its previous motion to seal documents related to the Binance case. ![]() Magistrate Judge Faruqui has scheduled the next hearing for September 18. The SEC is also asking the court to reject BAM’s plea for a protective injunction. Only 10 of these 31 exhibits were included in the latest filings. The SEC has submitted 31 exhibits to support its motion to compel and oppose Binance U.S.’s request for a protective order. have departed, affecting investor confidence and trading volumes. Amidst the ongoing lawsuit, several officials from Binance and Binance U.S. They’ve now submitted a “motion to unseal” to reveal these papers. ![]() Last month, the SEC filed confidential documents that caused unrest in the crypto market. has countered, claiming the SEC’s demands in an emergency order are unwarranted. SEC recently presented evidence against Binance U.S., highlighting the exchange’s non-compliance with a prior consent order. A ruling in favor of the SEC could lead to a significant market sell-off, while a decision supporting Binance could ignite a buying demand. SEC Hearing: A key event on the horizon for next week is the court hearing between Binance and the SEC. At the moment, Bitcoin is trading in the $26K range, comfortably above bearish levels.īinance Vs. Nonetheless, Fed interest rate announcements are expected to induce a 1% market volatility based on recent trends. Last week’s CPI data failed to bring any significant volatility to Bitcoin. central bankers are expected to maintain a leaning towards stricter policy during their September 19-20 meeting, even if they keep rates unchanged. Given that inflation remains above the 2% goal and the economy is robust, U.S. When Federal Reserve Chairman Jerome Powell and his team convene next week, they are unlikely to indicate that they’re finished with interest rate hikes. August’s CPI rose 3.7% year-on-year, up from July’s 3.2%, while Core CPI was 4.3%, down from 4.7% in July, leaving the Fed and markets uncertain. Next Week’s Macro Events And Crypto Market’s ReactionįOMC Meeting: Will the Fed hike interest rates again in 2023? After ten straight increases and a pause in June, rates rose by 25 basis points in July to 5.25-5.50%. Securities and Exchange Commission (SEC), all eyes are on these crucial developments next week. ![]() From the Federal Reserve’s much-anticipated interest rate decision to the Federal Open Market Committee (FOMC) meeting and the hearing of the legal battle between Binance and the U.S. The crypto market is preparing for a volatile week, filled with major events that have the potential to shift investor sentiment and alter price trends. ![]() SEC Hearing To Capture Attention appeared first on Coinpedia Fintech News The post Crucial Week Ahead for Crypto: Fed’s Interest Rate Decision, FOMC Meeting, And Binance Vs.
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