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<p class="is-style-lead">Binance CEO Changpeng &#8220;CZ&#8221; Zhao expressed pleasure at the amicable resolution of a recent emergency relief request from the U.S. Securities and Exchange Commission (SEC) that would have resulted in the freezing of client funds.</p>



<h2 class="wp-block-heading" id="binance-us-and-sec-agree-on-consent-order">Binance.US and SEC agree on consent order</h2>



<p>CZ highlighted the company&#8217;s commitment to ongoing operations despite the difficulties and regulatory barriers faced by Binance recently. He emphasized that user funds are safe and secure across all Binance-related services and will remain so in the future.</p>



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<blockquote class="twitter-tweet" data-width="550" data-dnt="true"><p lang="en" dir="ltr">Although we maintain that the SEC&#39;s request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms.  <br><br>User funds have been and always will be safe and secure on all Binance-affiliated…</p>&mdash; CZ 🔶 Binance (@cz_binance) <a href="https://twitter.com/cz_binance/status/1670076255633375236?ref_src=twsrc%5Etfw" target="_blank" rel="noopener">June 17, 2023</a></blockquote><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
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<p>The cryptocurrency exchange has continuously prioritized the safety and security of user funds during the regulatory review and put strong security measures in place across all related platforms.</p>



<p>The news comes after Judge Amy Berman Jackson of the U.S. District Court of Columbia approved the &#8220;Proposed Stipulation and Consent Order&#8221; between Binance, Binance.US, and the SEC on June 17.</p>



<p>Binance was <a href="https://crypto.news/binance-partners-with-the-weeknd-to-introduce-metaverse-experience/">ordered</a> to &#8220;repatriate&#8221; all fiat money and cryptocurrency assets connected to Binance.US by a certain date. The agreement also limits Binance global employees, prohibiting them from accessing any wallet&#8217;s private keys, including cold and hot wallets.</p>



<p>The consent order and asset repatriation agreement between Binance.US and the SEC will also prevent freezing the exchange’s assets while establishing greater transparency and control, allowing the world&#8217;s largest exchange to continue its operations.</p>




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            Binance.US and SEC agreement will see client funds moved to the US        </a>
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<h2 class="wp-block-heading" id="sec-seeks-emergency-order-against-binance-us">SEC seeks emergency order against Binance.US</h2>



<p>The regulator had previously submitted an emergency motion in a <a href="https://www.sec.gov/news/press-release/2023-110" target="_blank" rel="noopener">press release</a> on June 17 requesting the freezing of funds owned by Binance.US and the return of assets belonging to its users.</p>



<p>The SEC cited Binance&#8217;s alleged <a href="https://crypto.news/nigeria-sec-declares-binance-operations-in-country-illegal/">illegal </a>actions as the motivation behind its attempt to safeguard the customer&#8217;s assets and to prevent the loss of available assets for any judgment.</p>



<p>The move also sought to stop the defendants mentioned in the SEC&#8217;s case from destroying, altering, or hiding important records.</p>



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<iframe title="SEC Sues Binance—Here&#039;s What To Expect Next" width="1020" height="574" src="https://www.youtube.com/embed/yinLAsXle68?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>The <a href="https://crypto.news/recent-sec-filing-marks-67-altcoins-as-securities/">filing </a>follows SEC&#8217;s complaint against Binance and its CEO, Changpeng Zhao. The agency filed 13 civil complaints against the top cryptocurrency exchange, accusing it, among other things, of mixing customer funds and avoiding regulators.</p>




    <p>
        Read more:

        <a href="https://crypto.news/binance-reportedly-under-investigation-in-france-for-alleged-money-laundering/">
            Binance reportedly under investigation in France for alleged money laundering        </a>
    </p>

Binance CEO responds to resolution of SEC’s request for emergency relief

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