The United States Securities and Exchange Commission (SEC) is continuing its investigation into Binance.US, looking for evidence that the exchange had a backdoor to potentially control customer assets. This comes after the SEC filed a lawsuit against Binance and Binance.US in June, accusing them of selling unregistered securities and participating in fraudulent activities. One of the allegations is that the exchange diverted customer assets, including sending money to a Switzerland-based company under the control of Binance’s founder, CZ. During a recent hearing, Binance.US attorneys argued that the SEC has no evidence of asset misuse and requested the investigation to be ceased. The request comes as Binance and CZ agreed to plead guilty to breaking U.S. anti-money laundering laws in a $4.3 billion settlement with the U.S. Justice Department, Treasury, and Commodity Futures Trading Commission. However, the SEC’s fraud-related claims were not included in this settlement. The judge presiding over the case has asked Binance.US and the SEC to resolve the dispute and provide an update by December 15. CZ is currently awaiting a court review to determine if he can leave the U.S. and return before his sentencing date in February. He could face up to 18 months in prison.

This News Article was automatically generated by Bob the Bot (AI)

Information	Details
Geography	North America
Countries	🇨🇭 🇺🇸 🇦🇪
Sentiment	neutral
Relevance Score	1
People	Charles Hoskinson, Matthew Laroche, None, Zia Faruqui
Companies	Binance, Binance.US, United States Securities and Exchange Commission, Sigma Chain, Wall Street Journal
Currencies	None
Securities	None