Binance Partial Victory in US Courts (Judge Rules in Favor of Binance)

Teji123 · 2023-06-14T15:40:47.000Z

On June 14, 2023, US District Judge Amy Berman Jackson ordered the Securities and Exchange Commission (SEC) and Binance.US to work together to reach a compromise agreement that would allow Binance.US to continue operating without freezing your assets. The agreement must be ready by Thursday, June 16. The SEC had filed a motion for a temporary restraining order (TRO) that would have frozen Binance.US's assets, alleging that the exchange had violated securities laws by selling unregistered tokens. Binance.US argued that the TRO was unnecessary and would hurt its clients In her ruling, Judge Jackson said that she was not convinced that the SEC had fulfilled its obligation to show that a TRO was necessary. She also said that she was concerned about the potential harm to Binance.US clients. “Shutting it down completely would create significant consequences not only for the company but also for digital asset markets in general,” Judge Jackson said. The agreement between the SEC and Binance.US is still being negotiated, but is expected to include provisions that allow Binance.US to continue trading while meeting SEC requirements. The case is still ongoing, and the SEC may still seek to impose further sanctions on Binance.US. However, the agreement reached on June 14 is a significant victory for Binance.US and its clients. It means that the exchange will be able to continue operating and that its clients will not see their funds frozen. #Binance #SEC

Teji123

I like to use Binance and it would be very sad if something went wrong with this platform.I hope Binance will work for a long time and make its users happy as always. Thanks for in

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