SEC Requests Temporary Restriction Order For Binance!

The US Securities and Exchange Commission (SEC) is tightening the circle around Binance. In a last-minute development, the SEC has asked a court to order a temporary ban on the freezing of assets linked to Binance.US. Meanwhile, Binance and its CEO, CZ, responded to the SEC’s allegations.

SEC’s request for temporary restriction on Binance.US

The filing comes a day after the SEC filed a lawsuit against Binance. A court filing in DC District Court sought approval to freeze assets affiliated with BAM Management US Holdings and BAM Trading Services, the holding and operating firms of Binance.US. cryptocoin.comAs you follow on Monday, the SEC reported on Binance.US, Binance Global, and Changpeng Zhao (CZ), founder and CEO of Binance, including allegations that CZ affiliates have secretly accessed funds belonging to Binance.US customers. sued for a series of compliance and control errors. In its latest move, the SEC cited the following in its request:

Given the years of Defendants’ violating behavior, their disregard of US law, their avoidance of regulatory oversight, and open questions regarding various financial transfers and the custody and control of Client Assets, the SEC is committed to ensuring the safety of client assets and preventing the dispersal of existing assets for any decision. respectfully submits that this assistance is required on an accelerated basis.

What if the court grants the request?

Another file requests “showing why no injunction should be issued,” “an order directing defendants to repatriate assets held for the benefit of BAM customers,” “an order prohibiting defendants from destroying records,” and a host of other orders. If the order is accepted, Binance will have five days to ensure that only Binance.US can access customer funds. Also, within 30 days it will need to transfer all client assets to new wallets that only Binance.US has access to.

Monday’s filing pointed to a request for a temporary restraining order, with the SEC stating it would seek injunctive relief that could include an asset freeze and a “verified accounting.” The SEC filed a lawsuit Monday, alleging that Binance allowed two CZ-affiliated companies, Sigma Chain and Merit Peak, to access “billions of US dollars” of client funds held by BAM Trading. Binance, on the other hand, said in a statement that user funds on Binance.US are never at risk.


Binance and its CEO responded to the allegations of the SEC!

Binance, on the other hand, denies the SEC’s allegations. In this regard, he claims that he always acts transparently and in compliance with the regulations. Following the latest developments, the crypto exchange published a statement on its Twitter account. In the statement in question, Binance underlines some issues in response to the allegations:

  • Our wallet addresses? Transparent and open. So, it is possible for everyone to see.
  • Are we misusing user assets? It never has been and never will be.
  • Do we have debt in our capital structure? No, it never happened.
  • Do we have an unsecured loan? We never do business this way.
  • Have we made large political donations? It has not been and will not be part of our agenda.
  • We are a community of people united by the promise of financial inclusion.
  • Of different races, ethnicities and faiths.
  • We are Binance. We will continue to develop for our users and stand for this industry.

Changpeng Zhao, CEO of Binance, also retweeted the announcement of the exchange, saying, “People often use their (narrow) worldview when evaluating us. For example, Question: Do you have any debt? Answer: No, no!” A note fell.

Contact us to be instantly informed about the last minute developments. twitterin, Facebookin and InstagramFollow and Telegram And YouTube join our channel!

Risk Disclosure: The articles and articles on do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. does not recommend buying or selling any cryptocurrencies or digital assets, nor is an investment advisor. For this reason, and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Disclaimer: Advertisements on are carried out through third-party advertising channels. In addition, also includes sponsored articles and press releases on its site. For this reason, advertising links directed from are on the site completely independent of’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on and the pages directed by the links in the sponsored articles do not bind in any way.

Warning: Citing the news content of and quoting by giving a link is subject to the permission of No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of in violation of intellectual property law and relevant legislation.

Show Disclaimer

source site-2