Close Menu
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Blog
  • Contact
    • Tech7685@gmail.com
What's Hot

NFT-Ecosystemtoken built on Solana (SOL) Hapert after obtaining surprise support from Binance Futures

2025-05-09

Bitcoin’s rare on-chain phase Has it just touched is $ 120k next?

2025-05-09

Tech Expert predicts Bitcoin of $ 1 million – ‘only one 10x left’

2025-05-09
Facebook X (Twitter) Instagram
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
Facebook X (Twitter) Instagram
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
  • News
    • Bitcoin
    • Altcoins
    • DeFi
    • Regulation
    • Market Cap
    • Web 3
    • Scam
  • Blockchain

    Decentralized AI Society to run Hypercycle Masternode

    2025-05-09

    Agi Open Network Partners with AI Sim for Smarter, faster AI agents

    2025-05-09

    Hela Labs to redefine decentralized data possession in collaboration with Insight Genesis

    2025-05-09

    Hashkey chain reveals the puzzle game of the chains in the chains in collaboration with Zypher Network

    2025-05-09

    Superstate is spreading to Tokenized shares; Sol -Strategies to mention first

    2025-05-09
  • NFT

    Drink-to-earn? A new sparkling water comes with an NFT and points

    2025-05-08

    Cobie says we will return if someone buys this $ 20 million NFT

    2025-05-08

    Edge Matrix, Colabs Partner to strengthen NFT -Makers

    2025-05-08

    Argentinian football club Partners with StepN to launch digital sneakers

    2025-05-05

    Pudgy Penguins #6873 Leads with Top NFT -sale worth $ 360.2k

    2025-05-04
  • Metaverse

    Shib: The Metaverse – Part of the expanding Shiba Inu ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Human Digital Life

    2024-12-13

    Exploring NetVRk: What’s Behind This AI-Powered Virtual Universe?

    2024-10-28

    Council of Europe emphasizes the impact of Metaverse on privacy and democracy

    2024-09-05
  • Analysis

    NFT-Ecosystemtoken built on Solana (SOL) Hapert after obtaining surprise support from Binance Futures

    2025-05-09

    XRP analyst marks XDC for 3,350% starts as bullish statistics appear

    2025-05-09

    Trader says that the market is ready for a strong reversal after Bullish Move – here is his target for Ethereum and Altcoins

    2025-05-09

    Crypto analyst says the XRP price must remedy this level or risk fries to $ 1.9

    2025-05-09

    Trader says Bitcoin on CUSP to break out from Beerarish market structure, sketches path to new multi-month high

    2025-05-09
  • Learn

    What Is Proof-of-Stake (PoS)? A Beginner’s Guide

    2025-05-09

    What Is a Layer-1 (L1) Blockchain?

    2025-05-03

    What is a Layer-2 (L2) Blockchain Network Solution?

    2025-05-02

    What Is a Layer-0 Protocol?

    2025-05-02

    What Are Utility Tokens? Types, Roles, Examples

    2025-04-17
  • Blog
  • Contact
    • Tech7685@gmail.com
Free Cryptocurrency – Bitcoin | Altcoins | Blockchain | News Stories Updated Daily
Home»Regulation»SEC asks court to take further action after reaching impasse with Binance.US
Binance drops Nigerian naira from P2P platform amid forex manipulation concerns
Regulation

SEC asks court to take further action after reaching impasse with Binance.US

2024-03-05No Comments3 Mins Read
Share
Facebook Twitter LinkedIn Pinterest Email

The SEC filed a joint motion on March 5 asking the court to take further action against Binance.US for allegedly failing to comply with regulators’ requests for information about customer assets.

According to the filing, the SEC alleges that Binance.US inspections have been inadequate, that the company’s lawyers have refused to answer critical questions, and that the company has changed aspects of its operations without providing updates, among other things.

Meanwhile, Binance.US claims in the joint filing that it has fully complied with all information requests from the regulator and argued that the SEC’s actions have caused “material harm” to the company.

The SEC first alleged that Binance and Binance.US committed securities law violations in June 2023. Shortly afterwards, the SEC obtained a temporary restraining order against Binance.US, requiring the exchange to provide data and follow orders.

SEC concerns

The SEC is particularly concerned about whether entities outside the US – including Binance Holdings Limited – control certain Binance.US crypto wallets.

The regulator’s concerns include a potential lack of full autonomy in Binance.US’ control over client assets – particularly regarding Binance Holdings employees’ potential access to these funds via Amazon Web Services servers.

These servers power Binance.US’ wallet software, raising questions about the company’s exclusive control over private keys and therefore customers’ assets.

The SEC has also raised concerns about whether Binance.US staff exists outside the US and is compensated by global Binance entities. Additionally, the watchdog wants to confirm whether Binance.US has properly monitored and blocked prohibited transfers to international entities affiliated with Binance.

See also  President-elect Trump Expected to Sign a Pro-Crypto Executive Order on Day One of His Presidency: Report

The SEC has asked the court to make additional discovery, including a directed deposition, which would require Binance.US to select a representative to provide binding testimony. The agency also said it is open to other, more limited discovery methods.

Material damage

According to the filing, Binance.US simultaneously asked the court to terminate the expedited discovery process on the grounds that it has fully complied with its demands.

The company has also argued that the SEC’s actions resulted in material harm as it resulted in the loss of banking partners and active users. The company added that these issues culminated in the decision to lay off employees.

Binance.US COO Christopher Blodgett’s testimony revealed that the company has laid off more than 200 employees — or two-thirds of the company — since June 2023 as users withdraw $1 billion in assets from the exchange.

Blodgett wrote that following the SEC’s actions, Binance.US’s revenues “imploded” and fell by more than 75% against the backdrop of rising operational and legal costs.

Source link

action Asks Binance.US Court impasse reaching SEC
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

American stablecoin legislation stops in the senate in the midst of partisely bickering

2025-05-09

BlackRock meets SEC Crypto Task Force to discuss tokenization, ETP rules

2025-05-09

Bitcoin (BTC) and the general crypto-market capitalization jump while US President Donald Trump rolls out after the Tariffs UK Trade Deal

2025-05-09

Gemini makes a permit for expanding EU offers

2025-05-09
Add A Comment

Comments are closed.

Top Posts

Bitcoin is approaching $64K, but can BTC avoid a drop to $55K?

2024-09-20

XRP Rebound gets grip when bulls strive to keep the momentum

2025-01-28

Stanford’s AI Research Lab to use Theta Edgecloud for LLM model studies

2025-04-19
Editors Picks

Why Did XRP Price Rise Today? Up 3.2% amid bearish sentiment

2023-05-28

Netflix and Decentraland are teaming up to bring ‘The Gray Man’ to The Metaverse

2023-10-05

Snoop Dogg’s ‘NFT Passports’ | Web3 daily

2023-06-15

Bitcoin: Form long positions bearish Press BTC?

2025-02-19
About
About

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, Defi, NFT, Metaverse and more.

We're social. Connect with us:

Facebook X (Twitter) Instagram Pinterest YouTube
Top Insights

NFT-Ecosystemtoken built on Solana (SOL) Hapert after obtaining surprise support from Binance Futures

Bitcoin’s rare on-chain phase Has it just touched is $ 120k next?

Tech Expert predicts Bitcoin of $ 1 million – ‘only one 10x left’

Get Informed

Subscribe to Updates

Get the latest news and Update from Free.cc about Crypto, Metaverse, NFT and more.

  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Advertise
  • BitcoinPlatform.com
© 2025 Free.cc - All rights reserved. Contact: info@free.cc

Type above and press Enter to search. Press Esc to cancel.

  • bitcoinBitcoin(BTC)$103,168.070.55%
  • ethereumEthereum(ETH)$2,334.515.26%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.362.41%
  • binancecoinBNB(BNB)$657.425.03%
  • solanaSolana(SOL)$170.735.74%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2100018.14%
  • cardanoCardano(ADA)$0.782.63%
  • tronTRON(TRX)$0.2622353.01%
  • suiSui(SUI)$3.931.88%
  • chainlinkChainlink(LINK)$15.941.64%
  • avalanche-2Avalanche(AVAX)$23.335.73%
  • stellarStellar(XLM)$0.2996002.25%
  • shiba-inuShiba Inu(SHIB)$0.0000156.53%
  • hedera-hashgraphHedera(HBAR)$0.2032594.90%
  • bitcoin-cashBitcoin Cash(BCH)$415.11-0.37%
  • the-open-networkToncoin(TON)$3.313.30%
  • hyperliquidHyperliquid(HYPE)$24.402.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.73-1.45%
  • polkadotPolkadot(DOT)$4.9710.88%
  • litecoinLitecoin(LTC)$103.128.65%
  • moneroMonero(XMR)$317.006.43%
  • bitget-tokenBitget Token(BGB)$4.786.57%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.00001316.36%
  • piPi(PI)$0.738.24%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.413.04%
  • bittensorBittensor(TAO)$437.443.49%
  • nearNEAR Protocol(NEAR)$2.967.36%
  • aptosAptos(APT)$5.610.86%
  • okbOKB(OKB)$54.614.33%
  • aaveAave(AAVE)$210.522.08%
  • ondo-financeOndo(ONDO)$1.012.85%
  • internet-computerInternet Computer(ICP)$5.525.81%
  • ethereum-classicEthereum Classic(ETC)$19.153.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.143.18%
  • gatechain-tokenGateToken(GT)$22.363.60%
  • kaspaKaspa(KAS)$0.1048707.48%
  • crypto-com-chainCronos(CRO)$0.1009442.20%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2569963.53%
  • vechainVeChain(VET)$0.0301524.92%
  • mantleMantle(MNT)$0.772.79%
  • render-tokenRender(RENDER)$4.996.11%
  • ethenaEthena(ENA)$0.3682779.57%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • filecoinFilecoin(FIL)$3.012.35%
  • algorandAlgorand(ALGO)$0.2325443.60%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.847.97%
  • bitcoinBitcoin(BTC)$103,168.070.55%
  • ethereumEthereum(ETH)$2,334.515.26%
  • tetherTether USDt(USDT)$1.000.01%
  • rippleXRP(XRP)$2.362.41%
  • binancecoinBNB(BNB)$657.425.03%
  • solanaSolana(SOL)$170.735.74%
  • usd-coinUSDC(USDC)$1.00-0.01%
  • dogecoinDogecoin(DOGE)$0.2100018.14%
  • cardanoCardano(ADA)$0.782.63%
  • tronTRON(TRX)$0.2622353.01%
  • suiSui(SUI)$3.931.88%
  • chainlinkChainlink(LINK)$15.941.64%
  • avalanche-2Avalanche(AVAX)$23.335.73%
  • stellarStellar(XLM)$0.2996002.25%
  • shiba-inuShiba Inu(SHIB)$0.0000156.53%
  • hedera-hashgraphHedera(HBAR)$0.2032594.90%
  • bitcoin-cashBitcoin Cash(BCH)$415.11-0.37%
  • the-open-networkToncoin(TON)$3.313.30%
  • hyperliquidHyperliquid(HYPE)$24.402.59%
  • unus-sed-leoUNUS SED LEO(LEO)$8.73-1.45%
  • polkadotPolkadot(DOT)$4.9710.88%
  • litecoinLitecoin(LTC)$103.128.65%
  • moneroMonero(XMR)$317.006.43%
  • bitget-tokenBitget Token(BGB)$4.786.57%
  • daiDai(DAI)$1.000.01%
  • pepePepe(PEPE)$0.00001316.36%
  • piPi(PI)$0.738.24%
  • ethena-usdeEthena USDe(USDE)$1.000.00%
  • uniswapUniswap(UNI)$6.413.04%
  • bittensorBittensor(TAO)$437.443.49%
  • nearNEAR Protocol(NEAR)$2.967.36%
  • aptosAptos(APT)$5.610.86%
  • okbOKB(OKB)$54.614.33%
  • aaveAave(AAVE)$210.522.08%
  • ondo-financeOndo(ONDO)$1.012.85%
  • internet-computerInternet Computer(ICP)$5.525.81%
  • ethereum-classicEthereum Classic(ETC)$19.153.31%
  • official-trumpOFFICIAL TRUMP(TRUMP)$14.143.18%
  • gatechain-tokenGateToken(GT)$22.363.60%
  • kaspaKaspa(KAS)$0.1048707.48%
  • crypto-com-chainCronos(CRO)$0.1009442.20%
  • polygon-ecosystem-tokenPOL (prev. MATIC)(POL)$0.2569963.53%
  • vechainVeChain(VET)$0.0301524.92%
  • mantleMantle(MNT)$0.772.79%
  • render-tokenRender(RENDER)$4.996.11%
  • ethenaEthena(ENA)$0.3682779.57%
  • usd1World Liberty Financial USD(USD1)$1.000.06%
  • filecoinFilecoin(FIL)$3.012.35%
  • algorandAlgorand(ALGO)$0.2325443.60%
  • artificial-superintelligence-allianceArtificial Superintelligence Alliance(FET)$0.847.97%