: SEC requests court order to temporarily freeze assets of Binance’s U.S. affiliate

The U.S. Securities and Exchange Commission on Tuesday asked a judge to grant a temporary restraining order to freeze assets tied to Binance.US. The agency on Monday charged Binance Holdings Inc. and its founder Changpeng Zhao with 13 securities law violations. The suit alleged that Binance created U.S.-only trading arms, BAM Trading and BAM Management US Holdings Inc., to avoid having its main exchanges, which were outside the U.S., fall under U.S. regulatory scrutiny. Representatives at Binance.US didn’t immediately return requests for comments. 

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.