Binance's Regulatory Gauntlet: A Harbinger for Crypto Exchanges?
In a landmark development, Binance, the world's largest cryptocurrency exchange, and its U.S. counterpart, Binance.US, have struck an agreement with the U.S. Securities and Exchange Commission (SEC) to ensure that U.S. customer assets remain within the country until a sweeping lawsuit filed by the regulatory agency is resolved.
We want to provide an update on the current battle https://t.co/AZwoBOh0gq finds itself in with the SEC. We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and…
— Binance.US 🇺🇸 (@BinanceUS) June 17, 2023
This agreement, which still requires the approval of the federal judge overseeing the litigation, is a significant milestone in the ongoing saga of regulatory challenges facing the crypto industry.