Binance.US and SEC Clash Over Asset Freeze
TL;DR Summary
Binance.US and the SEC have until June 15 to reach a deal that could prevent a full asset freeze for the exchange. US District Judge Amy German Jackson has encouraged the SEC to find middle ground with Binance.US, and has chosen a magistrate judge to help negotiations. The SEC has suggested a new deal that would relax certain limitations which previously demanded a total freeze of assets. The proposed agreement provides some guarantees to Binance affiliate BAM Trading, allowing the firm to maintain control over its US assets for paying salaries and fulfilling other financial obligations.
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