SEC and Binance.US strike a temporary agreement on asset access

📆 6/17/2023 10:56 AM
📰 Cointelegraph

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Binance.US reaches a temporary agreement with SEC, limiting customer fund access.

, pending approval from the overseeing federal judge, outlines measures for Binance.US to prevent any access by Binance Holdings officials to private keys of wallets, hardware wallets, or root access to Binance.US's Amazon Web Services tools. Additionally, the U.S.-based crypto trading platform will disclose comprehensive information on business expenses, including estimated costs, in the upcoming weeks.

However, Binance.US's legal representatives strongly opposed this notion, contending that imposing a complete freeze on all assets would essentially be equivalent to administering an excessively severe"death penalty" upon the company.

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