Binance.US, a cryptocurrency exchange, has attempted to address potential instability that may arise from its users following an action taken by the U.S. securities regulatory agency seeking to “expeditiously freeze” its assets.
In a tweet on June 6th, Binance.US reiterated that “user funds are safe and secure” and added that the platform “continues to operate normally with deposits and withdrawals functioning as usual.”
Earlier on June 6th, the SEC filed an emergency action in the U.S. District Court for the District of Columbia, requesting a temporary restraining order against Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ), seeking eight actions.
The requested actions include freezing the assets of Binance.US and recovering fiat currency and cryptocurrencies held by U.S. customers or for the benefit of U.S. customers. Additionally, the recommendation calls for prohibiting the defendants from destroying, altering, or concealing records and imposing other management conditions.