SEC and Binance.US strike a temporary agreement on asset access
Proposed measures include restricting Binance Holdings officials' access to private keys and disclosing business expenses. Binance, Binance.US, and the Securities and Exchange Commission (SEC) reportedly revealed an agreement , late Friday, June 16, temporarily limiting access to customer funds exclusively to Binance.US employees. According to reports, the proposed agreement , pending approval from the overseeing federal judge, outlines measures for Binance.US to prevent any access by Binance Holdings officials to private keys of wallets, hardware wallets, or root access to Binance.US's Amazon Web Services tools. Additionally, the U.S.-based crypto trading platform will disclose comprehensive information on business expenses, including estimated costs, in the upcoming weeks. The proposed agreement has emerged as a direct response to a motion filed by the SEC aiming to freeze the entirety of Binance.US's assets during the ongoing legal proceedings related to securities-r...