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SEC Struggles to Justify Financial Freeze Order Against Binance.US in Pretrial Proceedings

June 23 (Cointime) - The Securities and Exchange Commission (SEC) faced challenges in justifying their request for a financial freeze order against Binance.US during pretrial proceedings on July 15.

Judge Amy Berman Jackson expressed frustration as the SEC lawyers struggled to support their allegations. The SEC's request for an emergency injunction to freeze the assets of Binance.US and repatriate assets held abroad by related entities, including Binance.com, was seen as part of its attempt to paint Binance as a fraudulent parallel to FTX.

However, the SEC appeared to have only circumstantial grounds for its requested freeze, and Judge Jackson ultimately rejected the request. This highlights the broader issue with the SEC's crypto crackdown, which is facing pushback from lawmakers on both sides of the aisle.

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