The U.S. Securities and Exchange Commission (SEC) intensified its call for a Washington, D.C., court to greenlight an investigation into Binance.US.

This move followed the SEC's earlier claims that Binance.US did not provide the necessary documents in the ongoing legal battle.

The regulatory body had taken legal action against Binance.US, its global counterpart Binance Holdings, and its founder Changpeng Zhao in June, accusing them of operating an unauthorized securities exchange.

Amidst the ongoing legal tussle between the SEC and Binance.US, the broader crypto community is gearing up for the much-anticipated Benzinga's Future of Digital Assets conference on Nov. 14. This event promises to shed light on the evolving landscape of digital assets, regulatory challenges, and the future trajectory of the crypto industry.

The SEC's recent filing emphasized the "urgent need for an inspection," highlighting concerns over Binance's association with the custody platform Ceffu.

The regulator suspects Ceffu, which underwent a rebranding from Binance Custody earlier this year, might be facilitating Binance.US in transferring U.S. customer funds abroad, breaching a prior agreement.

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This agreement was made after Binance.US' parent company, BAM Trading Services, couldn't assure the SEC of having control over its clients' assets.

The SEC's filing pointed out inconsistencies in BAM's claims, stating the evidence was "undermined by BAM’s own documents and inability to keep its story straight, [which] did not actually establish that BAM exercised exclusive control over its customers’ assets."

The SEC is pressing for BAM to disclose documents related to any entity offering it wallet custody software and associated services, hinting at BAM's changing narratives about Ceffu.

The regulatory agency also criticized Binance for its "inconsistent representations about key facts" and for delaying the release of crucial documents.

The SEC's filing portrayed Zhao as someone who believed he was beyond any court's jurisdiction.

The commission urged the court to dismiss Binance's arguments and to mandate the exchange to furnish the requested data.

On the other hand, Ceffu positioned itself as an independent tech service provider, distancing itself from Binance, though the nature of their relationship remains ambiguous.

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