SEC's Crackdown on Binance and Coinbase Sends Shockwaves Through Crypto Industry.
The SEC has requested permission from the District of Columbia Court to freeze the assets of BAM Trading and BAM Management, the companies operating as Binance.US, and serve Binance CEO Changpeng Zhao via unspecified non-traditional methods. The SEC is seeking to "repatriate and freeze" the assets of BAM Management and BAM Trading and compel the firms to provide full accounting information and refrain from concealing or destroying any relevant documents. Earlier this month, the SEC sued Binance for allegedly violating securities laws and filed a motion to freeze the assets of BAM Trading and BAM Management.