The Securities and Exchange Commission and Binance have reached an agreement that will allow the cryptocurrency exchange to continue its operations in the US until the resolution of a lawsuit filed by the SEC earlier this month. On June 5th, the regulator sued Binance and its founder Changpeng Zhao, also known as CZ, alleging various misconducts such as artificially inflating trading volumes, mishandling customer assets, and failing to restrict US investors from trading on Binance.com when they were required to use a separate US system.
Following the charges, the SEC attempted to freeze Binance’s US assets in order to protect customer funds and prevent potential money transfers abroad. Binance argued that such an asset freeze would force them out of business in the US. However, the judge overseeing the case ordered both parties to find a compromise that would ensure the safety of customer assets.
In a court filing reported by The New York Times,…
2023-06-17 11:48:02
Link from www.engadget.com rnrn