Thus, the U.S. division of the largest cryptocurrency exchange can continue to operate. However, Amy Berman Jackson ordered Binance.US management to provide the court with a list of the site’s business expenses and ordered the two sides to continue negotiations.
In a courtroom in Washington, D.C., Jackson didn’t take too kindly to SEC lawyers. She stressed that the regulator has no evidence that representatives of the global company Binance, including founder Changpeng Zhao, have access to the assets of the U.S. unit;
The judge was also unhappy that SEC officials had no real evidence of customers’ assets being transferred out of the U.S.. According to the regulator’s lawyers, the global platform Binance “has enough private key segments to do so.”
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“I want to know if this is happening or not.. It’s amazing that I had to ask each of you,” Jackson noted.
The judge also failed to get the SEC’s lawyers on exactly how they distinguish between crypto-assets, which are considered securities, and “regular” cryptocurrencies. Also, the regulator’s lawyers could not answer what exactly a “crypto-asset” is.
Recall that the SEC sued the exchange Binance and its founder Changpeng Zhao, and later a similar lawsuit was filed against Coinbase exchange.<br