Agency says it seeks to protect customer holdings after “years of violative conduct” by the world’s largest cryptocurrency exchange.
The U.S. government is seeking a court order to freeze the assets of two Binance units a day after it sued the world’s largest cryptocurrency exchange for seeking to evade regulatory oversight.
The Securities and Exchange Commission requested the order against BAM Management US Holdings and BAM Trading Services, two units the agency claims were portrayed by Binance to be independent but were secretly controlled by the parent company and Changpeng Zhao, its CEO.
In its motion asking for the freeze from the federal court for the District of Columbia, the SEC said it was seeking to ensure the safety of customer assets at the U.
