Binance.US Asset Freeze Denied by U.S. Judge For Now
Crypto News

Binance.US Asset Freeze Denied by U.S. Judge For Now

1ในการอ่าน
1 year ago

The federal judge ordered the U.S. Securities and Exchange Commission and Binance.US to continue negotiating on limits.

Binance.US Asset Freeze Denied by U.S. Judge For Now

A federal judge in charge of the U.S. Securities and Exchange Commission’s case against Binance and Binance.US declined to issue a temporary restraining order that would have frozen the assets of the Binance.US trading platform.

Judge Amy Berman Jackson of the D.C. District Court asked the SEC to continue negotiating with Binance.US about limits, which would permit the company to carry on with its operations for now.

Binance.US urged the judge to reject the SEC's request to freeze billions of dollars' worth of assets on the platform. Representatives from Binance.US stated that they were "not willing to accept the death penalty" posed by a complete asset freeze and that they mainly wanted to be permitted normal operational expenses.

In the hearing on Tuesday, the judge appeared frustrated by the responses after questioning if any funds from Binance.US customers had actually left the country. Multiple SEC attorneys stated they were mostly worried about the fact that Binance's global platform had enough private key shards to move funds.

The judge reportedly stated that if the SEC and Binance.US lawyers can agree on the limits, “there’s absolutely no need” for a restraining order. This would allow all parties ample time to go through the case’s details. Judge Jackson also asked Binance.US to provide a list of its business expenses to the court. A status update is due by the end of the business day on Thursday.

This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
0 people liked this article