According to court documents, the SEC is seeking a temporary restraining order to freeze Binance US assets.
The US Securities and Exchange Commission (SEC) has requested a temporary restraining order to freeze the assets of Binance US, the American branch of the world’s largest cryptocurrency exchange Binance.
The request comes after the SEC sued Binance and its founder, Changpeng Zhao, on Monday, accusing them of conducting “an elaborate scheme to evade US federal securities laws” and diverting client funds for personal use.
A temporary restraining order to freeze assets is usually issued without notice to the other party and is valid for as little as two weeks.
The party subject to the decision can appeal the decision at a hearing and present evidence to show why the decision should be lifted or changed.
It was stated in the document in question that he requested assistance, including freezing of assets, repatriation of assets, and preservation of documents.
Update (00:56)
Tweeting about the issue, CZ said that this only affects Binance.US and has nothing to do with Binance.
Clarification: this could only affects https://t.co/hSHrrlF7o7, IF granted by the court.
It does NOT affect https://t.co/9rMMAmc1G9. Funds are #SAFU https://t.co/Xedzc0tyuM
— CZ 🔶 Binance (@cz_binance) June 6, 2023
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