The US Securities and Exchange Commission (SEC) has reached an agreement with crypto exchange Binance to limit the parent platform's employees' access to Binance.US customers' assets.
Judge Amy Berman Jackson has reportedly approved the agreement and rejected the SEC's motion to freeze Binance.US assets.
As part of the settlement, the exchange will share details of its trading expenses in the coming weeks. Binance international employees will lose access to the US division's private keys to wallets and other tools.
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The agreement has been reached after the relevant court order. Last June 6, the SEC filed a motion to freeze Binance.US digital assets. On June 14, the court ordered the regulator and the US exchange to reach an agreement to ensure the protection of customer assets with the ability to continue operating the platform.
During the hearing, a Binance.US spokesperson has stressed the company should be able to fund normal expenses, while an asset freeze could be "misinterpreted by the banks."
The platform has committed not to transfer assets or make payments to any entity within the corporate structure without a judge's order.