The SEC requested to freeze Binance assets

The United States Securities and Exchange Commission issued an application before a court in Washington against Binance

The United States Securities and Exchange Commission (SEC) filed an emergency request with the federal court in Washington, D.C., asking that the assets of Binance, the largest cryptocurrency platform in the United States, be frozen.

The SEC has taken this action to protect client assets, as it alleges that Binance has been engaged in illicit conduct for several years, defying US laws, evading regulatory oversight, and raising questions about financial transfers and custody of assets. customer assets.

Under the order, Binance and its co-founder and CEO Changpeng Zhao have to hand over possession, custody, and control of client assets within five days.

In addition, Binance has been requested to transfer client assets to new electronic wallets with new private keys, including administrative keys, and to provide the SEC with a registry of all new electronic wallets with client assets.

This comes just one day after the SEC filed a lawsuit against Binance, accusing the company of operating illegally in the United States and exposing investors to significant risk.

Additionally, today the SEC also sued Coinbase, another cryptocurrency platform, accusing it of operating as an unregistered stock exchange and stockbroker.

K. Tovar

Source: Descifrado

(Reference image source: Unsplash+)

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