Crypto News

SEC Seeks to Freeze Binance’s Assets in U.S.

The U.S. SEC has filed a motion for a temporary restraining order against Binance

The U.S. Securities and Exchange Commission (SEC) has filed a motion for a temporary restraining order against Binance, BAM Management, and BAM Trading.

The order, if granted, would freeze the assets of Binance.US and prevent the defendants from destroying, altering, or concealing relevant records.

The SEC’s motion comes one day after the agency filed a lawsuit against Binance, alleging that the company violated the Exchange Act and the Securities Act by operating an unregistered securities exchange.

The SEC also alleged that Binance and its affiliates engaged in a number of other violations, including failing to register as a broker-dealer and failing to file required reports.

Binance has denied the SEC’s allegations and has said that it is “committed to cooperating with the SEC’s investigation.”

However, the SEC’s motion for a temporary restraining order suggests that the agency is concerned that Binance may attempt to destroy evidence or dissipate its assets.

If the SEC’s motion is granted, it would be a major setback for Binance. The company would be unable to operate its U.S. exchange and would be forced to turn over any relevant records to the SEC.

The order would also send a strong message to other cryptocurrency exchanges that they must comply with U.S. securities laws.

The SEC’s case against Binance is the latest in a series of enforcement actions by the agency against cryptocurrency companies.

In recent years, the SEC has brought cases against a number of cryptocurrency exchanges, including BitMEX, Poloniex, and Kraken. The agency has also brought cases against a number of cryptocurrency startups, including Telegram and Ripple.


Roland is a Public Relations & Communications guru with an immense passion for the blockchain and crypto industry. A fusion of his expertise and passion led to the dawn of Optimisus in 2020.