Binance.US assets will not be blocked

A Federal Court determined that the assets of the cryptocurrency exchange should not be frozen

The Federal Court ruled that Binance.US funds will not be frozen, thus dismissing the request filed by the SEC. The judge in charge of the case considered that this measure was not necessary, since no evidence was found that the CEO of Binance or any member of the organization had transferred assets from the platform outside the United States.

The judge, Amy Berman Jackson, argued that the parties involved can enter into negotiations and collaborate while the investigations are carried out. Furthermore, no evidence was found that Changpeng Zhao or any Binance.US member transferred assets out of the country.

During the process, there was also a debate about whether certain cryptocurrencies should be classified as securities. The judge expressed her uncertainty as to whether these cryptocurrencies fit into the category of securities or whether they are considered commodities.

The Federal Court in Washington, DC, officially rejected the United States Securities and Exchange Commission (SEC) request to freeze the assets of Binance.US. This decision allows the exchange to continue operating in the country.

Judge Berman asked Binance.US to file a balance sheet of its trading assets and expenses with the court, also urging both the exchange and the regulator to continue negotiating to establish fair terms. According to reports, it is expected that there will be more details about this resolution next Thursday, June 15.

Judge Berman disagreed with her request to freeze the funds, criticizing SEC lawyers for trying to apply this measure without solid evidence that Binance CEO Changpeng Zhao or a member of the organization moved the funds. assets. She even directly questioned whether the SEC had determined movements of Binance.US funds out of the United States.

K. Tovar

Source: Diariobitcoin

(Reference image source: Vadim Artyukhin, Unsplash)

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