The SECGov, binance and binanceUS have announced a proposed agreement to ensure that U.S. customer funds can only be accessed by the U.S.-based crypto trading platform. The agreement needs judicial sign-off. nikhileshde reports
Binance, Binance.US and the Securities and Exchange Commission announced a deal to ensure that only Binance.US employees could access customer funds late Friday in the short-term., which still needs sign-off from the federal judge overseeing the case, Binance.US will take steps to make sure that no Binance Holdings officials have access to private keys for its various wallets, hardware wallets or root access to Binance.US's Amazon Web Services tools. Moreover, the U.S.
The proposed deal comes in response to an SEC motion to freeze all of Binance.US's assets while it pursues the exchange on securities-related charges. The regulator said it was concerned that funds could be moved offshore or records destroyed if it was not granted a temporary restraining order . Binance.US's attorneys pushed back, saying that freezing all of its assets would amount to the"death penalty.
Judge Amy Berman Jackson, of the District Court for the District of Columbia, told the parties that it would be better for them to come to an agreement on a proposed stipulation than to have her craft a restraining order, noting that a TRO comes with a two week limit for a more in depth hearing. Two weeks would be insufficient time to prepare, given the more than 4,000 pages of exhibits the parties have already filed, she said during a hearing earlier this week.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Introducing Binance Sensei: Your AI-powered Web3 Mentor | Binance BlogLaunching on April 24, 2023, Binance Sensei is an innovative AI-driven learning tool that is seamlessly integrated with Binance Academy. Binance Sensei leverages the power of artificial intelligence to help users access the wealth of knowledge available on Binance Academy in a more intuitive manner.
Read more »
Binance Flexible Loan Has Delisted PEPE as a Borrowable Asset | Binance SupportThis is a general announcement. Products and services referred to here may not be available in your region. Fellow Binancians, Binance Flexible Loan has delisted PEPE as a borrowable asset. Please ...
Read more »
How Binance Protects Your Funds With Risk Control Measures | Binance BlogMaking sure your crypto is safe is our top priority. To ensure that we do, we utilise a number of risk-monitoring and prevention tools across our Binance platforms. Read all about them below.
Read more »
Binance launches Bitcoin mining cloud services amid SEC crackdown in the USBinance’s BTC mining subscription service will be active for 180 days, or roughly six months. For each TH/s purchased, users will be able to earn 0.0004338 BTC during the timeline.
Read more »
Binance.U.S. Cuts Staff After SEC Suit, Citing ‘Very Costly Litigation Process’The U.S. affiliate of binance has laid off part of its staff roughly a week after the sec filed a lawsuit against the exchange. HeleneBraunn reports
Read more »
Crypto giant Binance's US affiliate fires staff after SEC chargesThe U.S. affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees' social media posts.
Read more »