The Crypto Roundup: 19 June 2023 | CryptoCompare.com

U.S. District Judge Amy Berman Jackson has signed a deal between the U.S. Securities and Exchange Commission (SEC), global crypto exchange Binance and its U.S. affiliate to implement steps to ensure only U.S.-based personnel can access customer funds while the case is active.

As part of the interim agreement, Binance.US will limit access to private keys for its wallets, and root access to Binance.US’s Amazon Web Services tools, ensuring that no officials from Binance Holdings, the parent global exchange, can access these resources. Detailed financial data, including projected costs, is set to be shared by the U.S. entity in the coming weeks.

The agreement serves as a response to the SEC’s motion to freeze all assets of Binance.US amid accusations of securities violations. The regulator voiced concerns that without a temporary restraining order, funds could be moved overseas or records could be destroyed, but Binance.US’s attorneys argued in response that an asset freeze would be akin to a “death penalty.”

Over the agreement, Binance.US will establish new cryptocurrency wallets inaccessible to global employees, provide additional information to the SEC, and comply with an accelerated discovery timeline. Customers of the exchange will be able to withdraw funds.

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• Source: https://www.cryptocompare.com/email-updates/daily/2023/jun/19/