US Court Approves SEC and Binance.US Agreement
The United States District Court for the District of Columbia has approved the settlement agreement between the US Securities and Exchange Commission (SEC) and Binance.US, the US-based subsidiary of the world’s largest crypto exchange Binance. The agreement settles the SEC’s claims that Binance.US had violated US securities laws in connection with its initial coin offering (ICO) activities.
Terms of the Agreement
The agreement requires Binance.US to pay a $400,000 penalty and to register as a broker-dealer with the SEC. Additionally, Binance.US must comply with the SEC’s rules and regulations, including those related to anti-money laundering, customer identification, and recordkeeping.
Binance.US will also be required to implement a compliance program to ensure that it is in compliance with the SEC’s rules and regulations.
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