Binance.US and SEC Reach A Compromise in Handling Funds
On Tuesday, June 13, US District Judge Amy Berman Jackson said that both – Binance.US and the Securities and Exchange Commission – have agreed to work on a deal of avoiding a total asset freeze. Jackson said that the two sides “aren’t that far apart” on ways of protecting billions of dollars in customers’ funds without the need of shutting down the exchange as the lawsuit proceeds. advertisement During a hearing yesterday, Jackson said: “the nitty-gritty of it is better handled by you than by me”. The judge added that if the two parties reach a deal mutually, she would no longer have to rule on the SEC’s request of introducing a temporary restraining order. Binance.US Opposes to Giving Up Control Over Funds Soon after filing the lawsuit on Binance.US for violating federal securities laws, the SEC sought an order to freeze the funds at Binance.US . The federal securities regulator argued that the restrai...