SEC and Binance in Legal Battle Over US Assets Freeze

The SEC and Binance's US arm, BAM Trading, have filed a proposed consent order that would ease some of the restrictions from a previous SEC request to freeze the company's assets. The proposed order would allow BAM Trading to make payroll and other financial commitments but would require Binance to transfer all US-based assets to new wallets and not make payments or transfer any assets to any Binance entity or individual acting on behalf of Binance. The court has asked for further clarification, and both parties have until June 13 to weigh in with any changes before a decision is made concerning the proposed consent order.