- June 6, 2023
- Posted by: admin
- Category: BitCoin, Blockchain, Cryptocurrency, Investments
The SEC has accused Binance of mishandling funds and operating an unregistered securities exchange.
The United States Securities and Exchange Commission filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6 requesting eight actions.
The first requested actions are the freezing of the assets of Binance.US and repatriation of fiat and cryptocurrency held by U.S. customers or for the benefit of U.S. customers. In addition, it prohibits the defendants from destroying, altering or concealing records and other sets conditions on discovery.
According to the filing:
“This relief is necessary on an expedited basis to ensure the safety of customer assets and prevent the dissipation of available assets for any judgment, given the Defendants’ years of violative conduct, disregard of the laws of the United States, evasion of regulatory oversight, and open questions about various financial transfers and the custody and control of Customer Assets.”
This is a developing story, and further information will be added as it becomes available.
