Binance.US, SEC Working on Deal to Avoid Full Asset Freeze
- Federal judge urges compromise to protect US customer funds
- Crypto exchange argued a freeze would ‘cripple’ its business
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Binance.US and the Securities and Exchange Commission agreed to work on a deal that avoids a total asset freeze at the cryptocurrency trading platform, which the regulator has accused of operating illegally.
US District Judge Amy Berman Jackson said Tuesday the two sides “aren’t that far apart” on ways to protect billions of dollars in customer funds without shutting the exchange down while the SEC’s lawsuit proceeds. She referred them to a magistrate judge to work on a compromise agreement.