Binance.US Resolves Asset Freeze Issue with SEC in Approved Agreement
Binance.US and SEC Reach an Arrangement to Address Asset Freeze Issue
Binance.US has successfully resolved its asset freeze issue with the U.S. Securities and Exchange Commission (SEC) through an approved agreement. Under the agreement, only Binance.US employees will have access to client funds until the ongoing litigation is resolved. However, U.S.-based customers will still retain the ability to withdraw their funds during this period. The deal also includes safeguards preventing Binance global officials from accessing private keys, hardware wallets, or root access to Binance.US's Amazon Web Services tools. The SEC had accused Binance CEO Changpeng Zhao of mishandling customer funds but failed to provide any evidence. The agreement also outlines the repatriation of specific assets to the United States and requires an accounting of BAM entities valued over $1,000.