SEC seeks restraining order against Binance.

The United States Securities and Exchange Commission (SEC) filed a request for an emergency restraining order against Binance, Binance.US, and CEO Changpeng Zhao (also known as CZ) on June 6th in the U.S. District Court for the District of Columbia. The request lists eight actions that the SEC is seeking.

The first action requested is the freezing of the assets held by Binance.US and the repatriation of fiat and cryptocurrency held by U.S. customers or for their benefit. The request also bars the defendants from destroying, altering, or hiding records and sets conditions on discovery.

The filing stated:

“This relief is necessary on an expedited basis to ensure the safety of customer assets and prevent the dissipation of available assets for any judgment, given the Defendants’ years of violative conduct, disregard of the laws of the United States, evasion of regulatory oversight, and open questions about various financial transfers and the custody and control of Customer Assets.”