Following the increased regulatory oversight over the crypto industry, the United States Securities and Exchange Commission (SEC) has filed an emergency motion for a temporary restraining order against Binance Holdings Limited, BAM Trading Services, BAM Management US Holdings, and Changpeng Zhao.
The SEC seeks to freeze the assets of BAM Management and BAM Trading, direct defendants to repatriate assets held for the benefit of BAM customers, and prohibit the destruction of records by defendants, among other forms of relief. According to the court filing, the SEC alleges that the defendants have engaged in acts, practices, and courses of business that constitute violations of securities laws.
Binance.US In Hot Water
The SEC argues that an order freezing BAM’s assets is necessary to prevent the dissipation or transfer of those assets from the jurisdiction of the court and to “protect” the…
