Binance Strikes Deal with SEC to Keep US Operations Running Amid Fraud Charges

Binance.US has reached an agreement with the SEC to avoid the freezing of exchange assets in return for greater transparency and oversight. The agreement still results in asset repatriation, with Binance agreeing to ensure that a pair of Binance.US holding companies "maintains possession, custody and control in the United States of all fiat currency and crypto assets that are deposited, held, traded, or accrued by customers." The agreement demands information on every account or wallet under its management since December 1, 2022, along with associated financial institutions and account numbers.