The U.S. SEC requests the court to freeze the assets of companies related to Binance US

2023-06-07 07:41:56

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ChainCatcher news, on Tuesday the U.S. Securities and Exchange Commission (SEC) requested the court to approve a temporary restraining order to freeze assets related to Binance US. According to a court document submitted to the Washington court, the SEC is seeking approval to freeze assets related to Binance US's holding and operating companies BAM Management US Holdings and BAM Trading Services.

If the restraining order is approved, Binance will have five days to ensure that only Binance US can access customer funds, and within 30 days, transfer all customer assets to a new wallet that only Binance US can access.

Previous news, the SEC has sued Binance and Binance founder Changpeng Zhao, claiming that companies associated with Zhao were able to secretly access funds belonging to Binance US customers. (CoinDesk)

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