Β Β Β Β Β Β Federal Court Greenlights Binance.US to Invest in Treasury Bills
Binance.US, the American branch of the global cryptocurrency exchange Binance, received a significant legal victory last Friday. A federal judge approved the exchangeβs request to invest specific customer assets in U.S. Treasury bills.
This move marks a notable shift as it releases Binance.US from previous constraints imposed by the U.S. Securities and Exchange Commission (SEC).
| Broker | Review | Regulators | Min Deposit | Website | |
|---|---|---|---|---|---|
| π₯ |  | Read Review | ASIC, FSA, CBI, BVI, FSCA, FRSA, CySEC, ISA, JFSA | USD 100 | Visit Broker |
| π₯ |  | Read Review | FCA, CySEC, ASIC, MAS, FSA, EFSA, DFSA, CFTC | USD 100 | Visit Broker |
| π₯ |  | Read Review | CySEC, MISA, FSCA | USD 25 | Visit Broker |
| 4 |  | Read Review | ASIC, BaFin, CMA, CySEC, DFSA, FCA, SCB | USD 200 | Visit Broker |
| 5 |  | Read Review | ASIC, FCA, CySEC, SCB | USD 100 | Visit Broker |
| 6 |  | Read Review | FCA, FSCA, FSC, CMA | USD 200 | Visit Broker |
| 7 |  | Read Review | BVI FSC | USD 1 | Visit Broker |
| 8 |  | Read Review | CBCS, CySEC, FCA, FSA, FSC, FSCA, CMA | USD 10 | Visit Broker |
| 9 |  | Read Review | ASIC, CySEC, FSCA, CMA | USD 100 | Visit Broker |
| 10 |  | Read Review | IFSC, FSCA, ASIC, CySEC | USD 1 | Visit Broker |
βThis order represents a significant step forward for Binance.US in providing secure investment options to our customers,β stated the affiliate following the courtβs decision.
Enhanced Custody and Investment Strategies
Under the new court order, Binance.US will transfer cryptocurrencies to a third-party custodian unaffiliated with the exchange. Additionally, Binance.US operator BAM Trading Services is now authorized to invest certain customer fiat funds, which are held at the cryptocurrency custody firm BitGo, into U.S. Treasury bills.
These investments will have a rolling maturity of four weeks, ensuring that they are continually renewed. Importantly, the court stipulated that no third parties, including any Binance entities, may be involved in these investment activities.
Context and Implications of the Ruling
This ruling comes in the wake of a lawsuit filed by the SEC against Binance and its leadership, including CEO and founder Changpeng Zhao.
The SEC had accused Binance of inflating trading volumes, misusing customer funds, and inadequately preventing U.S. customers from accessing its global platform, among other allegations.
In response to these allegations, Binance and Binance.US negotiated an agreement with the SEC to guarantee that assets of U.S. customers would remain within the country. The judgeβs decision to allow investments in Treasury bills is part of Binance.
USβs ongoing efforts to align with federal regulations and secure the financial interests of its customers. This decision could set a precedent for how cryptocurrency exchanges operate within regulatory frameworks, highlighting a shift towards more traditional and regulated financial practices in the crypto space.
ABOUT THE AUTHOR
See More
Add 3442
Related Posts
Add 3440
π 7 Best Forex Brokers
| Broker | Website | |
|---|---|---|
| π₯ | | Visit Broker |
| π₯ | | Visit Broker |
| π₯ | | Visit Broker |
| 4 | | Visit Broker |
| 5 | | Visit Broker |
| 6 | | Visit Broker |
| 7 | | Visit Broker |
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals
Top 4 Brokers
