The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity “Eeon,” which has sought to intervene on behalf of customers in the SEC’s case against the crypto exchange.
According to the U.S. District Court for the District of Columbia, Binance and the SEC objected to Eeon’s request to intervene in the lawsuit, citing that it does not meet the necessary legal requirements for intervention and consent.
The SEC claims that Eeon has a history of repeatedly unsuccessfully representing itself in court cases.
The SEC also claims the Securities Exchange Act prohibits private litigants from intervening, making Eeon’s request impermissible. The SEC also argues that Eeon’s participation in the lawsuit would have no significant impact, as their claims align with those of the defendants and fail to meet the requirements for intervention. Additionally, the agency says Eeon’s counterclaims are contradictory in nature.
Binance provided three grounds for dismissing Eeon’s petition: the lack of consent from the SEC, Eeon’s failure to establish itself as a legitimate party of interest and its failure to meet the necessary legal requirements for intervention.
Both the SEC and the defendants — Binance and its CEO Changpeng “CZ” Zhao — are united in their opposition to any intervention by Eeon in the SEC’s lawsuit against Binance and its CEO.
Meanwhile, Binance has filed a motion to dismiss the lawsuit brought against it by the U.S. Commodity Futures Trading Commission (CFTC), arguing that the agency is attempting to regulate foreign individuals and corporations outside the U.S., going beyond the limits of its statutory jurisdiction. However, due to the court’s extended deadlines for the submission of responses by both the CFTC and Binance, the dismissal process is expected to extend into 2024.
Canterbury MP Rosie Duffield has resigned from the Labour Party.
The 53-year-old MP is the first to jump ship since the general election and in her resignation letter criticised the prime minister for accepting thousands of pounds worth of gifts.
She told Sir Keir Starmer the reason for leaving now is “the programme of policies you seem determined to stick to”, despite their unpopularity with the electorate and MPs.
In her letter she accused the prime minister and his top team of “sleaze, nepotism and apparent avarice” which are “off the scale”.
“I’m so ashamed of what you and your inner circle have done to tarnish and humiliate our once proud party,” she said.
Since December 2019, the prime minister received £107,145 in gifts, benefits, and hospitality – a specific category in parliament’s register of MPs’ interests.
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Ms Duffield, who has previously clashed with the prime minister on gender issues, attacked the government for pursuing “cruel and unnecessary” policies as she resigned the Labour whip.
She criticised the decision to keep the two-child benefit cap and means-test the winter fuel payment, and accused the prime minister of “hypocrisy” over his acceptance of free gifts from donors.
“Since the change of government in July, the revelations of hypocrisy have been staggering and increasingly outrageous,” she said.
“I cannot put into words how angry I and my colleagues are at your total lack of understanding about how you have made us all appear.”
Ms Duffield also mentioned the recent “treatment of Diane Abbott”, who said she thought she had been barred from standing by Labour ahead of the general election, before Sir Keir said she would be allowed to defend her Hackney North and Stoke Newington seat for the party.
Her relationship with the Labour leadership has long been strained and her decision to quit the party comes after seven other Labour MPs were suspended for rebelling by voting for a motion calling for the two-child benefit cap to be abolished.
“Someone with far-above-average wealth choosing to keep the Conservatives’ two-child limit to benefit payments which entrenches children in poverty, while inexplicably accepting expensive personal gifts of designer suits and glasses costing more than most of those people can grasp – this is entirely undeserving of holding the title of Labour prime minister,” she said.
Ms Duffield said she will continue to represent her constituents as an independent MP, “guided by my core Labour values”.