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Binance Strikes Deal with U.S. Government to Keep Operations Running Amid SEC Lawsuit

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Source: The New York Times
Binance Strikes Deal with U.S. Government to Keep Operations Running Amid SEC Lawsuit
Photo: The New York Times
TL;DR Summary

Binance has reached a compromise with the Securities and Exchange Commission (SEC) that will allow the cryptocurrency exchange to continue operating in the US and safeguard customer assets as it battles a government lawsuit. Under the agreement, funds belonging to customers of Binance.US would go into special digital repositories accessible only to the US exchange, and not to Binance's international operation or its founder, Changpeng Zhao. The SEC has been investigating Binance since 2020 and filed fraud charges against the exchange on June 5.

Topics:business#binance#compromise#cryptocurrency#customer-assets#lawsuit#sec
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  1. Binance Reaches Deal With Government to Avert U.S. Shutdown  The New York Times
  2. Binance, SEC Strike Deal to Move All U.S. Customer Funds, Wallet Keys Back Onshore  CoinDesk
  3. Binance.US Cuts Workers After SEC Lawsuit  Bloomberg Television
  4. Binance, SEC strike deal to keep US customer assets in country  Reuters
  5. Under court deal, Binance can continue U.S. operations as it battles SEC fraud charges  AOL

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