Binance.US and SEC agreement will see client funds moved to the US
Binance and Binance.US have reached an agreement with the United States Securities and Exchange Commission (SEC) to secure customer funds and private keys by repatriating all Binance.US users’ funds to the United States, thereby preventing Binance Holdings officials, including Chanpeng Zhao, from accessing them. The development comes in response to the regulator’s request to freeze all of Binance.US’s assets as authorities continue to look into the lawsuit against the company. Binance and SEC ink compromise agreement The United States web3 regulatory landscape has been quite challenging for market participants. The ongoing legal case between Binance, Binance.US, and the SEC is the latest in a series of enforcement actions against crypto businesses in the country. The saga began when the SEC filed a lawsuit against Binance and Binance.US, accusing them of trading and offering unregistered securities to United States residents. The lawsuit also rais...