SEC Moves to Freeze Binance.US Assets
The U.S. Securities and Exchange Commission (SEC) asked a court to grant a temporary restraining order to freeze assets tied to Binance.US.
- "A court filing made in the D.C. District Court asks for approval to freeze assets tied to BAM Management US Holdings and BAM Trading Services, the holding and operating firms for Binance.US."
"The SEC respectfully submits that this relief is necessary on an expedited basis to ensure the safety of customer assets and prevent the dissipation of available assets for any judgment, given the Defendants’ years of violative conduct, disregard of the laws of the United States, evasion of regulatory oversight, and open questions about various financial transfers and the custody and control of Customer Assets – including by Defendants who claim they are not subject to the Court’s jurisdiction – as described in the Complaint, Memorandum of Law, and supporting materials," SEC filing said.
- "If the order is granted, Binance would have five days to ensure that only Binance.US has access to customer funds, and within 30 days, all customer assets would be transferred to new wallets that only Binance.US can access," reported CoinDesk.
