2023-06-07 01:10:34
© Reuters US: SEC Asks Justice to Freeze Binance Assets
The Securities and Exchange Commission (SEC, the American Securities and Exchange Commission) filed a request this Tuesday afternoon, 6, for the United States Justice to freeze Binance’s assets and force it to repatriate the assets held by its customers within ten days after approval of the application.
According to the SEC, the filing is necessary to “preserve the status quo, prevent the dissipation or transfer of these assets, and protect the Court’s ability to provide relief in the form of restitution, pretrial interest, and civil penalties.”
The order also ensures that no data will be destroyed by the defendants, and that Binance will have five days to file its accounting reports with the court.
The petition comes amid the growing siege by US regulators of cryptocurrency exchanges. Yesterday, the SEC filed suit against Binance and the company’s CEO, Changpeng Zhao, for alleged violations of securities rules. Today, the agency also sued Coinbase (NASDAQ:).
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