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