U.S. Judge Amy Berman Jackson approved a settlement between Binance.US, Binance and the Securities and Exchange Commission (SEC) on June 17, with a pre-emptive temporary restraining order (TRO) dismissal. That means no freezing of Binance.US assets.
Judge Jackson has expressed a desire for the parties to reach an agreement on their own by June 14, rather than a decision from one party. Finally, the parties reached an agreement on June 16.
“Binance.US is pleased to announce that the Court has not granted the TRO request and froze assets on our platform. This is clearly incorrect and does not comply with the law.” Binance.US announced on Twitter.
According to the approved agreement, only Binance.US employees will have access to customer funds until the lawsuit is resolved. Customers in the US will still have the ability to withdraw during this time.
The agreement between the crypto exchange and the US regulator also prevented Binance’s global leaders from accessing the wallet’s private keys, hardware wallets, or root access to tools. Amazon Web Services by Binance.US.
“Any evidence regarding the misuse of client assets has never been provided by the SEC. In fact, in a court hearing earlier today, the SEC’s attorney admitted when asked The judge asked that they don’t have any evidence to prove it happened,” Binance.US wrote about allegations of mismanagement of customer funds.