Binance. US and the Securities and Exchange Commission (SEC) have agreed to work on a deal that avoids a total asset freeze at the cryptocurrency trading platform, which the regulator has accused of operating illegally. The two sides are close to a compromise agreement that protects customer funds without shutting the exchange down while the SEC’s lawsuit proceeds.
The SEC sought an asset freeze last week for Binance. US, which is owned by Binance Holdings Ltd. founder Changpeng Zhao. The exchange argued that blocking the flow of funds would cripple its business and hurt customers. The case is SEC v. Binance, 23-cv-01599, US District Court, District of Columbia (Washington, DC).
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