Court wants Binance.US, SEC to avoid full asset freeze
Binance.US and the Securities & Exchange Commission (SEC) are racing against a deadline to strike a deal that could prevent a full asset freeze for the exchange. The commission initiated legal action against Binance and affiliated entities on earlier this month. Following that, the SEC requested a temporary restraining order and asset freeze. US District Judge Amy German Jackson on Tuesday encouraged the SEC to find middle ground with Binance.US. Doing so could pave the way for Binance to maintain its operations within the US. Jackson gave the parties until Jun. 15, 5pm ET to figure things out and chose a magistrate judge Zia Faruqui to help negotiations, according to an order filed Tuesday. Binance.US also needs to submit a list of regular expenses by June 14 at 9am ET. Binance.US suspended US dollar deposits last week and warned users that withdrawals could be suspended as early as Tuesday, in preparation for the court session. The SEC also suggested a new deal on Tuesday t...