Binance.US and the Securities and Exchange Commission agreed to work on a deal that avoids a total asset freeze at the cryptocurrency trading platform, which the regulator has accused of operating illegally.
U.S. District Judge Amy Berman Jackson said Tuesday the two sides appeared “not that far apart” on ways to protect billions of dollars in customer funds without shutting the exchange down while the SEC’s lawsuit proceeds. She referred them to a magistrate judge to work on a compromise agreement.
“Shutting it down completely would create significant consequences not only for the company but for the digital asset markets in general,” Jackson said during a hearing in Washington. The judge said she’d hold off on deciding the SEC’s request for an asset freeze until the work with the magistrate was completed.
