CZ Makes Statement Following SEC’s Deal

Changpeng Zhao, CEO of Binance, expressed his satisfaction that the dispute with the United States Securities and Exchange Commission (SEC) has been resolved. The long-running SEC review ended a period of uncertainty for the company, a development that pleased Zhao.

With regulatory uncertainty starting to clear, CZ stated that he can now focus on the future of Binance. In his tweet, Zhao stressed that the SEC’s urgent request for assistance was unnecessary, confirming that the mutually agreed solution would enable Binance to move forward unhindered.

“Although we maintain that the SEC’s request for emergency relief was entirely unwarranted, we are pleased that the disagreement over this request was resolved on mutually acceptable terms. User funds have been and will always be safe and secure on all Binance-affiliated platforms.”

In a significant development, Judge Amy Berman Jackson of the US District Court for the District of Columbia upheld the “Recommended Terms and Consent Order” between Binance, Binance US, and the SEC on June 18. According to this order, Binance is obliged to “return to its country” all Binance US-related fiat and crypto assets by the specified date. The agreement also imposes restrictions, including cold and hot wallets, where Binance global officials restrict access to the private keys of all wallets.

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