- According to unconfirmed reports, the process will begin at 21:00 Kyiv time
- Prior to this, Binance.US filed a counter-petition to remove the SEC requirement
- The exchange is fully equipped with a maximum of legal support
Today, June 13, the U.S. District Court of the District of Columbia will hear a hearing regarding the SEC’s request to issue TRO on Binance.US assets. The exchange filed a counter-petition, hired the best lawyer and is ready to spend a fabulous amount on the process.
process date information confirmed Former SEC Officer John Reed Stark. Insider with the nickname “MetaLawMan” claimsthat the hearing will begin at 14:00 local time (21:00 Kyiv time). But this is unconfirmed information.
The user also noted that Binance.US allegedly offered a deal to the SEC, but was refused. It included measures to protect investors’ funds, an audit of the platform, and the transfer of private keys to federal authorities.
What is known at the moment?
The SEC requested a TRO (Temporary Restraining Order) shortly after filing a lawsuit against Binance. According to the regulator, the court should freeze the assets of Binance.US in order to ensure the safety of the funds of the platform’s clients.
On Monday, June 12, the American branch of the exchange filed a counter-petition to cancel the requirement. Allegedly, this threatens the company with complete liquidation, which will certainly lead to losses for customers.
According to an insider, Binance has allocated $1 billion for litigation with the SEC. The company has also hired the best lawyers in the United States, including former SEC employee George Kanellos.
However, John Reed Stark claims that the Department of Justice is also investigating the platform. The process takes place behind “closed doors” and its details are unknown.
So is there any chance for Binance.US to win the court over and get the asset freeze petition cancelled? Yes, but you should also consider the fact that the SEC is more than serious. And she won’t give up so easily.
Stay tuned for updates on this topic on our website.