SEC granted emergency restraining order to freeze, repatriate Binance.US assets

The SEC has filed an emergency restraining order to freeze the assets of Binance.US and BAM Management, BAM Trading Services Inc., and BAM Management US Holdings, Inc. on behalf of its customers as a result of the 13-charge lawsuit against Binance filed the day before. The court agreed to grant the SEC’s demands. The ruling effectively freezes the assets of Binance entities BAM Management and BAM Trading and prevents them from transferring the assets except to recognized third-party custodians. It also requires Binance to repatriate any assets held outside of the United States on behalf of Binance.US customers. Binance announced on Twitter that its customers could access and withdraw their funds, despite the ruling.

To top