In a major development, Binance and the SEC have reached a proposed agreement to move all U.S. customer funds back onshore. The agreement, which still requires judicial approval, outlines steps to ensure that Binance Holdings officials won’t have access to private keys or root access to Binance.US’s tools. Additionally, Binance.US will provide detailed information about its expenses. This agreement comes as a response to the SEC’s motion to freeze Binance.US’s assets in a securities-related case, with concerns about offshore movement of funds. Meanwhile, the Coinbase vs SEC case sees a change in judge, with Judge Jennifer Rearden being replaced by experienced Judge Katherine Polk Failla. Speculation abounds regarding the reason behind this switch, as Failla brings her expertise in handling cryptocurrency-related civil actions. Stay tuned for more updates on these important legal battles in the crypto world.
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