Binance.US assures users that their funds are secure despite SEC’s asset freezing attempt.

The United States securities regulator has filed a motion seeking to freeze the assets of Binance.US on an expedited basis, causing possible unrest among its users. However, in a tweet, Binance.US reassured its users that their assets remain safe and secure, and that the platform is fully operational with deposits and withdrawals functioning as normal. The Securities and Exchange Commission (SEC) filed an emergency motion against Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ) on June 6, requesting eight actions, including the freezing of the assets of Binance.US and the repatriation of fiat and cryptocurrency held by U.S. customers. Some members of the crypto community expressed concerns that the restraining order could result in a “bank run” on the exchange. Despite the information provided by Binance.US to ensure the safety of customer assets, the SEC still decided to file the motion seeking a temporary restraining order and preliminary injunction. Binance.US said the injunction was “unwarranted” and that it looks forward to defending itself in court. The SEC lawsuit against Binance bears similarities to the one brought against blockchain on the same day for allegedly offering unregistered securities.

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