The US Securities and Exchange Commission (SEC) has filed a lawsuit against the cryptocurrency trading platform Binance, seeking to freeze related assets and recover billions of dollars. The judge issued a new order to broker a compromise with a temporary consent decree to prepare for a full hearing on the case.
Both parties must present their perception of a negotiated temporary freeze and an expedited discovery plan. This is an unprecedented situation for the SEC, which typically seeks emergency relief against a small firm, group, or individual. This may be the most important SEC crypto-related enforcement action in history.
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