:Binance, Binance.US and the U.S. securities regulator entered into an agreement to ensure that only Binance.US employees could access customer funds in the short term, according to court documents.
Under the agreement, which still needs sign-off from the federal judge overseeing the case, Binance.US will take steps to make sure that no Binance Holdings officials have access to private keys for its various wallets, hardware wallets or root access to Binance.US's Amazon Web Services tools, the filings showed.
The proposed agreement comes after the SEC sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator last week, in a dramatic escalation of a crackdown on the industry by U.S. regulators. The SEC also sued major U.S. exchange Coinbase after that.The U.S. affiliate of Binance halted dollar deposits last week and gave customers until June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets.
Other provisions in the proposed agreement will see Binance.US create new crypto wallets that the global exchange's employees have no access to, provide additional information to the SEC and agree to an expedited discovery schedule, the filings said.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Binance, SEC strike deal to move all US customer funds, wallet keys back onshore - CoinDeskBinance, Binance.US and the Securities and Exchange Commission (SEC) announced a deal to ensure that only Binance.US employees could access customer funds, CoinDesk said on Saturday.
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Crypto giant Binance's US affiliate fires staff after SEC charges: ReportLONDON: The US affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees' social media posts. One of the sources said around 50 peo
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Crypto giant Binance's US affiliate fires staff after SEC charges -sourcesLONDON : The U.S. affiliate of crypto giant Binance has carried out a round of layoffs since regulators last week charged it with violating securities laws and sought to freeze its assets, said two people with knowledge of the dismissals and employees' social media posts.One of the sources said around 50
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Binance under investigation in France for money-launderingPARIS: Binance, the largest cryptocurrency exchange, is under preliminary investigation for both illegal canvassing of clients and aggravated money-laundering, the Paris prosecutor's office said on Friday (Jun 16), confirming media reports. 'The investigation is about, on one hand, the unauthorised practic
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Binance under investigation in France for illegal canvassing: ReportPARIS: Binance, the largest cryptocurrency exchange, is under preliminary investigation by the Paris prosecutors office for both illegal canvassing of clients and aggravated money laundering, French daily Le Monde reported on Friday (Jun 16). 'In France, on-site visits by regulators and inspectors are part
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Binance to quit Netherlands after failing to registerBinance, the largest cryptocurrency exchange, said on Friday (Jun 16) that it was leaving the Dutch market because it had been unable to meet registration requirements to operate as a virtual asset service provider. It is the latest in a string of setbacks for Binance including the Jun 5 decision by the US
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »