2023-06-17 10:18:00
La SEC versus Binance – While Securities and Exchange Commission (SEC) recently attacked Binance.US, an agreement seems to have been reached between the two camps.
Cet accord therefore offers restricted access to client funds from Binance.US, the overseas branch of the crypto platform. Note that the objective of the US financial policeman is to secure the company’s crypto funds to ensure better asset protection. This announcement is in line with therecent SEC offensive to freeze Binance.US customer funds.
In detail, the motion states that only Binance.US employees will have access to the wallets’ private keys, as well as the subsidiary’s Amazon Web Services tools. The objective of this measure? Guarantee funds for US clients.
As judge Amy Berman Jackson in charge of the case pointed out, the two-week deadlines imposed by the various procedures will not be sufficient to disentangle the true from the false. However, if this agreement is validated by the Federal judge, the funds of the American customers will be returned to a third party and regulated entity.
Finally, and this is perhaps becoming a habit, let’s not cry wolf. The case is still fresh, thedeal still needs to be approved by a federal judge. US customers are still allowed to withdraw their funds from the platform. The suspense therefore remains in place at the start of the weekend. Case to follow on Le Journal du Coin.
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