A american judge rejected the request from the regulator SEC aimed at freeze visit assets from Binance US. The two parts should rather find a compromise for protect visit fonds from customers while allowing the platform from operate.
La federal judge for the District of Washington, Amy Berman Jackson, did not grant atemporary restraining order to the U.S. Securities and Exchange Commission for freeze visit fonds from the platform Binance USreported Bloomberg Tuesday evening.
The U.S. branch of crypto magnate CZ’s empire and the Securities and Exchange Commission have finally agreed to work on a less restrictive process than a total asset freeze.
The SECwhich recently launched proceedings against Binance and its executives, had asked the court in early June to temporarily freeze the assets of its US subsidiary, arguing that the order was necessary to “preserve the status quo, ensure the safety and availability of the assets held, and prevent the dissipation or transfer of such assets outside the jurisdiction of the Court”.
Binance US indicated that a freeze would result in a shutdown of its services and would harm its American customers. “We are not willing to accept the death penalty eight days into our case,” said one of his lawyers.
The SEC has previously accused Binance of funding funds under their control to the tune of $12 billion from the assets of its users.
Binance US must now provide a list of its expenses necessary to continue operating. The securities regulator also wants the platform to repatriate customer assets to the US.
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