Binance reaches deal with SEC to avoid US asset freeze
The Securities and Exchange Commission and Binance have come to an agreement that will allow the cryptocurrency exchange to continue operating in the US until a lawsuit filed by the SEC earlier this month is resolved. The regulator, better known as CZ, on June 5th, alleging the company had artificially inflated trading volumes, mixed and diverted customer assets and failed to restrict US investors from trading on Binance.com when they were supposed to stay on a separate US system.
After announcing the charges, the SEC sought to freeze Binance’s US assets. The regulator said the move was necessary to protect customer funds and prevent the company from potentially moving money abroad. Binance, meanwhile, argued an asset freeze would put it out of business in the US. On Tuesday, the judge overseeing the litigation ordered the two sides to come to a compromise that would safeguard customer assets.
Although we maintain that the SEC's request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms.June 17, 2023 “Given that Changpeng Zhao and Binance have control of the platforms’ customers’ assets and have been able to commingle customer assets or divert customer assets as they please, as we have alleged, these prohibitions are essential to protecting investor assets,” the SEC
. “Further, we ensured that US customers will be able to withdraw their assets from the platform while we work to resolve the alleged underlying misconduct and hold Zhao and the Binance entities accountable for their alleged securities law violations.”Great deals on consumer electronics delivered straight to your inbox, curated by Engadget’s editorial team.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
Binance Flexible Loan Has Delisted PEPE as a Borrowable Asset | Binance SupportThis is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Binance Flexible Loan has delisted PEPE as a borrowable asset. Please ...
Consulte Mais informação »
Binance and the SEC agree to allow only U.S. employees to access customer fundsBinance, Binance.US and the SEC agreed to ensure that only Binance.US employees could access customer funds in the short term, according to court documents.
Consulte Mais informação »
Introducing Binance Sensei: Your AI-powered Web3 Mentor | Binance BlogLaunching on April 24, 2023, Binance Sensei is an innovative AI-driven learning tool that is seamlessly integrated with Binance Academy. Binance Sensei leverages the power of artificial intelligence to help users access the wealth of knowledge available on Binance Academy in a more intuitive manner.
Consulte Mais informação »
How Binance Protects Your Funds With Risk Control Measures | Binance BlogMaking sure your crypto is safe is our top priority. To ensure that we do, we utilise a number of risk-monitoring and prevention tools across our Binance platforms. Read all about them below.
Consulte Mais informação »
Binance.U.S. Cuts Staff After SEC Suit, Citing ‘Very Costly Litigation Process’The U.S. affiliate of binance has laid off part of its staff roughly a week after the sec filed a lawsuit against the exchange. HeleneBraunn reports
Consulte Mais informação »
Crypto giant Binance's US affiliate fires staff after SEC chargesThe U.S. affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees' social media posts.
Consulte Mais informação »