A Massive Day For Crypto in the Courts
The Breakdown
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The SEC's Motion for a Ban on Binance US
The SEC is concerned that CZ's current control could change unpredictably and that US investor assets may not be sufficiently protected. The SEC argues for an asset freeze and repatriation to protect US investors BAM trading and Binance management's potential liability could exceed their reported illicit gains of four hundred and twenty million dollars. A court ruling could very well mean the end of the exchange according to a defense which read if the court does address the merits of the SEC's motion it should deny that motion.
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