U.S SEC and Binance Oppose Eeon’s Petition to Intervene in Lawsuit
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Summary: The US SEC and Binance have opposed Eeon's petition to intervene, as it does not meet legal conditions for intervention and consent. Binance rejected Eeon's petition for three reasons: not having SEC approval, not being a "real party in interest," and not fulfilling legal prerequisites. The SEC claims Eeon is a chronic pro se litigator with stalled cases in federal court.
Responses from the U.S. SEC and cryptocurrency exchange Binance to the intervening entity “Eeon” have been filed. Since Eeon’s petition to intervene does not meet the legal conditions for intervention and consent, the US SEC and Binance have opposed it.
Strong Opposition by Duo
District Court for the District of Columbia records show that both Binance, the defendant, and the US Securities and Exchange Commission, the plaintiff, filed an opposition to Eeon’s motion to intervene. Binance rejected Eeon’s petition for three grounds.
These include not having the SEC’s approval, not being a “real party in interest,” and not fulfilling the legal prerequisites for intervention. Furthermore, Eeon’s counterclaim contains indefinite and irrelevant assertions.
The US SEC claims Eeon is a chronic pro se litigator whose cases have stalled in federal court. Since the Exchange Act forbids private litigants from intervening, the SEC has asked the court to reject the petition, arguing that its claims are identical to those of the defendants and that its involvement would have no effect on the case.
Move to Dismiss the Case
Binance, a leading cryptocurrency exchange, has responded to the CFTC lawsuit against its CEO CZ by filing a move to dismiss the case on the grounds that the US regulator lacks jurisdiction over the company. The dismissal, however, will be delayed until next year due to the court’s deadlines for filing of answers by the CFTC and Binance. Binance still has to deal with regulatory issues and is under increased attention from US authorities.
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