Binance and US authorities agree not to freeze client assets

The SEC accuses the exchange of violating US securities regulations. According to the agreement, the exchange can spend corporate funds only to cover business expenses

Crypto exchange Binance.US and the US Securities and Exchange Commission (SEC) have reached an agreement that will allow the platform to avoid a complete freeze of client assets while a lawsuit against it is being considered. Bloomberg reports this with reference to the court decision.

The SEC filed a lawsuit against Binance in early June. Authorities accuse the exchange and its founder Changpeng Zhao of violating US securities regulations on 13 counts. According to the department, Binance secretly allowed large US clients to trade on the platform, although it publicly announced a ban on operations for American users.#binance