Binance.US and the SEC reached an agreement to avoid asset freezes, proposing to transfer U.S. customer assets to a new wallet

ChainCatcher news, according to Bloomberg, during the hearing on the temporary restraining order regarding Binance.US by the U.S. Securities and Exchange Commission (SEC), Binance.US and the SEC agreed to reach an agreement to avoid the freezing of the total assets of the cryptocurrency trading platform.

In response to the SEC's request for asset freezing, Binance proposed a compromise plan that includes transferring the cryptocurrency assets of U.S. customers to new wallets with new private keys, which will be solely controlled by Binance.US. As part of its proposal, the exchange also requested permission to continue paying employee salaries and covering operational costs, while committing not to transfer any assets or make any payments that would benefit any Binance entity without a court order. (Bloomberg)