It does not store any personal data.Īnalytical cookies are used to understand how visitors interact with the website. The cookie is set by the GDPR Cookie Consent plugin and is used to store whether or not user has consented to the use of cookies. The cookie is used to store the user consent for the cookies in the category "Performance". This cookie is set by GDPR Cookie Consent plugin. The cookie is used to store the user consent for the cookies in the category "Other. The cookies is used to store the user consent for the cookies in the category "Necessary". The cookie is set by GDPR cookie consent to record the user consent for the cookies in the category "Functional". The cookie is used to store the user consent for the cookies in the category "Analytics". Set by the GDPR Cookie Consent plugin, this cookie is used to record the user consent for the cookies in the "Advertisement" category. These cookies ensure basic functionalities and security features of the website, anonymously. Necessary cookies are absolutely essential for the website to function properly. “User assets remain safe and secure and the platform continues to be fully operational with deposits and withdrawals functioning as normal,” the crypto exchange wrote. In a Twitter statement on Tuesday, June 6, Binance.US assured customers that it continued to function as usual. “BAM Trading may continue to transfer Customer Assets to support redemptions of Customer Crypto Assets, with the exception of and specifically excluding Customer Crypto Assets of any of the Binance Entities and otherwise subject to the prohibition that it not transfer Customer Assets for the benefit of any of the Binance Entities,” the SEC wrote. It is worth noting that the scope of the request only covers the transfer of customer deposits to Binance-related entities enjoined in the lawsuit and does not affect customer withdrawals. Should the court approve, Binance will have only five days to ensure that access to customer funds is restricted to Binance.US and 30 days to transfer any assets that it holds on behalf of Binance.US customers. The commission also argued that ordering Binance to place any funds held on behalf of Binance.US customers in Binance.US custody was necessary to ensure the safety of these deposits. The SEC has notably urged the court to freeze assets tied to Binance.US-related entities.Īccording to the SEC, such an order is necessary to prevent the movement of funds outside the court’s jurisdiction. According to the regulator, this oversight included access to Binance.US customer deposits. This week the United States Securities and Exchange Commission sent shockwaves through the crypto industry by launching an enforcement action against the world’s largest crypto exchange, Binance.Īmong other complaints, the SEC alleged that Binance and its Chief Executive Officer Changpeng “CZ” Zhao maintained significant control over Binance.US, despite public statements from the company to the contrary. The move raises questions about its implications.As part of its enforcement action against Binance, the SEC has sought to restrict Binance’s access to Binance.US funds.The SEC has taken its crypto enforcement effort up a notch.The article has now been amended to clarify that the court has yet to rule on the SEC's request. It was reported that the court had granted the SEC's request to freeze Binance.US assets. Erratum: The following article was corrected on
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