![]() ![]() If the courts grant the order, Binance must repatriate any money held outside the US for US customers. Genevieve Roch-Decter, CFA June 6, 2023 law.īREAKING: The SEC just asked the court to freeze all assets in Binance USĪssets are about to flow out of Binance US quickly! /Fqg8b4MSsG ![]() The SEC alleges that Binance and its founder, Changpeng Zhao, have demonstrated “disregard” for U.S. ![]() The commission filed an emergency order with the federal judge in Washington, D.C., to freeze the assets of Binance’s US subsidiary, Binance.US. They also pursued emergency relief actions against other entities connected to Binance. subsidiary and bring back the customers’ assets. The SEC has taken immediate action, wanting to freeze the assets of Binance’s U.S. Following the lawsuits, the crypto industry has criticized SEC Chair Gary Gensler, although he has denied allegations that the agency is attempting to suppress the crypto industry. In a tweet on Thursday, Binance.US expressed its view that the SEC’s perspective on cryptocurrency is “extremely forceful and harsh.” The exchange pledges its commitment to actively defend itself, its customers, and the industry against what it considers to be meritless attacks from the SEC. This suggests that it either ignored the news or fully understood its essence. Markets, observed that the market’s response has been relatively mute. Surprisingly, Binance’s BNB token showed little reaction to the news, seeing a minor decline of 0.46% to USD 261.46. Full Support to □Īccording to Matthew Dibb, COO of Singapore crypto platform Stack Funds, the decision to halt withdrawals may lead to concerns and anxiety among users, considering Binance.US is a smaller entity than its international counterpart.ĭibb also notes that it was expected that Binance would encounter challenges due to the ongoing comments and issues raised by the Securities and Exchange Commission (SEC) and other regulatory bodies. No Matter What Will Happen, #binance Will Be Survivor of This Disgusting War. Securities and Exchange Commission (SEC) recently filed a lawsuit against Binance and its founder, Changpeng Zhao, and targeted Coinbase.Ĥ️⃣ #BinanceUS suspends all USD deposits following SEC lawsuit. All trading, staking, deposits, and cryptocurrency withdrawals will continue unaffected. Binance.US Suspends USD DepositsĪccording to the exchange’s official statement, Binance.US will offer a crypto-only exchange service and suspend all US dollar-related services. The exchange’s banking partners also plan to halt fiat dollar withdrawal channels, possibly starting on June 13. This development comes shortly after Binance and its CEO, Changpeng Zhao, were sued by US regulators. On Thursday, the Binance.US cryptocurrency exchange made an announcement stating that it will be temporarily halting all US dollar deposits, in light of the lawsuit filed against them by the SEC. Join Our Telegram channel to stay up to date on breaking news coverage ![]()
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