Binance.US and the US Securities and Exchange Commission (SEC) have reached an agreement to avoid an asset freeze on the exchange.
According to information from Bloomberg June 14, U.S. District Judge Amy Berman Jackson referred the two organizations to a magistrate judge to reach a compromise agreement to protect client funds without paying exchange door.
Judge Jackson emphasized that a complete shutdown would have significant consequences not only for Binance.US but for the digital asset market as a whole.
Judge Jackson said she will not make a final decision on the temporary restraining order recommended by the SEC until the two sides have finalized an agreement.
Further negotiations with the judge have been scheduled for the end of business hours on June 15. The judge also noted that it appears that the SEC and Binance.US are not too far apart in reaching an agreement.
Before Judge Jackson delivered his decision at the hearing, former SEC enforcement attorney John Read Stark announced on Twitter to his 20,000 followers that there was a lot of conflict between the two and that this does not mean the judge could not dictate compromises and find a common voice.