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  2. Key Takeaways

    • The SEC has filed an emergency order to freeze the assets of crypto exchange Binance.US and force the repatriation of assets held on behalf of their customers.
    • This follows the thirteen charges filed by the SEC against Binance and its related entities on Monday.
    • If the emergency action is granted, Binance.US will still be allowed to process customer withdrawals.
    www.investopedia.com/sec-files-to-freeze-binance-us-assets-7509202
    www.investopedia.com/sec-files-to-freeze-binance-us-assets-7509202
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  3. People also ask
    Will the SEC freeze Binance?The Securities and Exchange Commission is trying to freeze the assets of Binance, the world’s largest cryptocurrency exchange. In an emergency motion for a temporary restraining order filed Tuesday (PDF), the SEC says it has made this decision to “ensure the safety of customer assets.”
    Did SEC request a near-total financial freeze order against Binance?In pretrial proceedings on July 15 in its case against Binance, lawyers for the U.S. Securities and Exchange Commission (SEC)struggled to justify their request for a near-total financial freeze orderagainst American arm Binance.US.
    Why did the SEC restraining order a crypto exchange?The SEC followed the lawsuit up with a motion for the temporary restraining order. The crypto exchanges pushed back against the claims in their response to the motion, arguing the SEC hadn't conclusively proven they listed any securities and saying the regulator hadn't shown any proof supporting an emergency motion.
    Did the SEC have circumstantial grounds for a freeze?As Judge Amy Berman pressed the SEC’s lawyers, it became increasingly clear thatthe SEC had at best circumstantial groundsfor its requested freeze. Jackson expressed sharp frustration when the SEC could not provide any clear sign that U.S. customer assets had been, or were planned to be, exfiltrated by Binance International.
     
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