- The court overturned the previous restraining order, which provided for the freezing of all assets of Binance.US.
- Now only Binance.US employees will have access to client assets
On the evening of June 17, U.S. federal judge Amy Berman Jackson, approved an agreement between Binance.US and the Securities and Exchange Commission, which provided that none of the officials of the global exchange had access to private keys for various wallets. The court also canceled the previous restraining order (TRO), which provided for the freezing of all assets of the American exchange.
A few days ago, Jackson wanted the parties to reach an agreement on their own, without her participation. They managed to do this on June 16, and a day later she confirmed the decision.
In a post on Binance.US on Twitter, he writes:
“We are pleased to inform you that the court has not granted the SEC’s request for a temporary restraining order and asset freeze on our platform. This request was manifestly unfounded both in terms of facts and in terms of law.”
The agreement, which was approved by a federal judge, provides that only Binance.US employees will have access to client funds until the end of the lawsuit. Users from the United States will be able to withdraw funds throughout this time.
Also, the agreement between the exchange and the US regulator provides for the prohibition of Binance employees from accessing private wallet keys, hardware wallets, or root access to Binance.US Amazon Web Services tools.
The statement also writes that Binance.US must immediately take steps to provide documented written records of accounts associated with BAM organizations that have a value of more than $1,000.