SEC Demands to Freeze Assets of Binance Crypto Exchange

The SEC recently filed a lawsuit against the Binance cryptocurrency exchange. Now it has decided to demand the freezing of all digital assets held by the crypto exchange and directly by its founder.

Why did the SEC make such a demand?

When the regulator filed a lawsuit, it had already attempted to block digital assets from the crypto exchange. However, then the agency demanded at least to make a temporary restraining order to speed up the case.

The regulator made such demands as a result of the accusations made against senior management, including the founder himself. We are talking about the fact that they allegedly redirected users' funds to their own investment funds. 

The agency believes that these funds were used to buy a yacht for $ 11 million and BUSD stablecoins.

The regulator made a statement in which it claims that this assistance is required to quickly ensure the safety of users' funds. The regulator's specialists claim that they take into account the long-term experience of the crypto exchange in violating US law and evading departmental supervision.

However, along with this, customers of the American branch can buy cryptocurrency directly from the exchange. At the same time, its representatives said that the users' funds are completely safe, and the accusations have no justification.

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