📰Binance subsidiary BAM has been granted a court charter to invest customer funds in U.S. Treasuries! 🏦🇺🇸
Hello everyone! Keeping up with the latest developments, Binance has won a major victory. The court gave the green light to allow BAM to invest customer funds in U.S. Treasuries! Let's talk about the incident and its significance to the industry~
Event Summary:
🔍 Binance has been dealing with U.S. regulators. Although it has paid a huge fine before, it has been involved in legal proceedings with relevant departments. However, an order document from the U.S. District Court for the District of Columbia implicitly affirmed all the efforts Binance has made in the past!
👉It is reported that the court has granted its subsidiary a special license to continue three key operations: first, BAM can freely invest company assets in third parties to ensure that funds do not flow to Binance-related companies; second, invest customer funds held by BitGo in 28-day U.S. Treasury bonds, and Binance shall not intervene and ensure that customer funds can be withdrawn at any time; third, transfer cryptocurrency assets to companies held in the United States, such as BAM or third-party custodians, for full control, and Binance shall not have control over wallet assets.
Special license! What does it mean?
🌟This is not only another victory for Binance, but also a great recognition of Binance's compliance. As far as the global investment market is concerned, investing in U.S. Treasury bonds should be a safer choice. Putting customer funds here can not only ensure the safety of funds, but also bring stable returns. Invisibly, it is like adding a safety lock to customer funds.
💭From an industry perspective, this decision is not only good news for Binance, but also good news for all customers who trust and use Binance services. This also sends a signal to the market: even in legal disputes, Binance can still provide customers with safe and reliable services.
🔄 At the same time, this decision may have a positive impact on the crypto market, increasing people's confidence in Binance, especially under the current vague definition of the cryptocurrency market, so that more investors believe that their funds are still safe.
🤔 What do you think about Binance subsidiary BAM being allowed to invest customer funds in US Treasuries?See you in the comments section~
