Binance Reaches Deal With Government to Avert U.S. Shutdown

The Securities and Exchange Commission agreed on a compromise with Binance that will keep the exchange open as it battles a fraud lawsuit.

Highlights

• The Securities and Exchange Commission reached a compromise with Binance.
• The deal would allow the world’s largest cryptocurrency exchange to keep operating in the U.S.
• The S.E.C.
• filed fraud charges against Binance on June 5.
• Judge Amy Berman Jackson, who is overseeing the case in federal court in Washington, signed off on the deal Saturday morning.
• The agreement stipulates that Binance.US can transfer company assets “solely to make payments for expenses or to satisfy obligations incurred in the ordinary course of business” under the deal.

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