US court approves SEC-Binance.US agreement

cointelegraph.com:

United States Judge Amy Berman Jackson approved on June 17 an agreement between Binance.US, Binance, and the Securities and Exchange Commission (SEC), dismissing a previous temporary restraining order (TRO) that would freeze all Binance.US assets. 

Judge Jackson said on June 14 she would prefer the parties reach an agreement on their own rather than have her rule. The sides reportedly reached an agreement on June 16.

"We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and the law," Binance.US said on Twitter.

As per the approved agreement, only Binance.US employees will have access to client funds until the litigation is resolved. U.S.-based customers will retain the ability to withdraw funds throughout this period.

We want to provide an update on the current battle https://t.co/AZwoBOh0gq finds itself in with the SEC. We are pleased to inform you that the Court did not grant the SEC’s request for a TRO and freeze of assets on our platform which was clearly unjustified by both the facts and…

The deal between the crypto exchange and the U.S. regulator also prevents any access by Binance global officials to private keys of wallets, hardware wallets, or root access to Binance.US’s Amazon Web Services tools.

"There has never been any evidence presented by the SEC concerning mis-use of customer assets. In fact, the SEC lawyers conceded in Court earlier this week, when asked by the Judge, that they had no evidence suggesting that any such thing had occurred," wrote Binance.US regarding allegations of funds mismanagement.

In a Twitter comment on the case, former chief of the SEC's Office of Internet Enforcement