Binance US And The SEC Agree To Work Out A Deal To Avoid Full Asset Freeze.
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There was some progress at today's hearing in the Binance US vs. SEC case. According to the judge, the two parties are "not that far apart."
Ultimately, the SEC will not get its wish of a total asset freeze for Binance US. U.S. District Judge Amy Berman Jackson referred the case to a magistrate judge to work out a compromise.
"Shutting it down completely would have significant consequences not only for the company but for the digital asset markets in general," the judge said.
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The two parties will now go to the magistrate court to try to reach a compromise before the judge makes her decision on the asset freeze.
The story so far:
✦ June 5: The SEC sues Binance US.
June 14: Hearing at the court. Judge refers both parties to magistrate court.
The Saga Continues ...
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