<p>In the SEC VS Binance case, a US federal judge has rejected the request from the US regulator. Quick breakdown: Binance US assets will not be frozen. However, the judge demands further negotiations between the SEC and Binance lawyers. The goal is to define boundaries and resolve security issues.</p>



<figure class="wp-block-image size-large"><img decoding="async" width="717" height="1024" src="https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec-717x1024.jpg" alt="" class="wp-image-609475" srcset="https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec-717x1024.jpg 717w, https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec-210x300.jpg 210w, https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec-768x1097.jpg 768w, https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec-1075x1536.jpg 1075w, https://www.cointribune.com/app/uploads/2023/06/binance-vs-sec.jpg 1080w" sizes="(max-width: 717px) 100vw, 717px"><figcaption class="wp-element-caption">The judge refuses to freeze Binance US and instead opts for continuing negotiations (Source: <a href="https://twitter.com/CoinDesk/status/1668735110533861379" target="_blank" rel="noreferrer noopener">Twitter</a>)</figcaption></figure>



<h2 id="h-freezing-of-binance-assets-judge-rejects-sec-s-request">Freezing of Binance assets: Judge rejects SEC’s request</h2>



<p>The SEC vs. Binance case started <strong>on June 5 </strong>when the US regulator filed a complaint against the exchange. The day after the complaint, the SEC requested <a href="https://www.cointribune.com/laffaire-binance-sec-monte-dun-cran/" target="_blank" rel="noreferrer noopener">the freezing of Binance US assets</a>, the US subsidiary of the crypto company.</p><div class="my-4"><div class="ads ">
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<p>During <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.54.0.pdf" target="_blank" rel="noreferrer noopener">a hearing</a> held in Washington on June 13, the federal judge ruled on the SEC’s request. The verdict: freezing Binance US assets was denied. However, the judge emphasizes that it is essential for both parties <strong>to reach an agreement</strong> on the limits and restrictions to be imposed on it. If they manage to reach an agreement, the restraining order would be of no use.</p>



<h2 id="negotiations-remain-ongoing">Negotiations remain ongoing</h2>



<p>During the hearing, the SEC expressed concern that <strong>Binance controls enough fragments of private keys to move funds.</strong> Their lawyers even highlight the changing narratives from Binance US regarding how assets and crypto funds are held.</p>



<p>Therefore, Judge Amy Berman Jackson has requested them to provide a list of its business expenses to the court. She also demands the continuation of <a href="https://www.cointribune.com/poursuites-de-la-sec-contre-binance-et-coinbase-les-dernieres-revelations-et-mises-a-jour/" target="_blank" rel="noreferrer noopener">negotiations</a> between the two parties. She emphasizes the need for <strong>an agreement on limits and restrictions</strong> to ensure the security of the assets.</p>



<p>Indeed, the request to freeze their assets filed by the SEC has been rejected. However, negotiations are still ongoing. One thing is certain: regardless of the outcome of this case, it will inevitably impact the crypto market. Let’s recall that the SEC has also taken legal action against <a href="https://www.cointribune.com/la-sec-attaque-coinbase/" target="_blank" rel="noreferrer noopener">Coinbase</a>.</p>

Binance case: SEC’s request rejected!

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