Bitcoin and Shiba Inu Trading May Come to a Halt on BinanceUS for Indefinite Period
The recent motion from the SEC to freeze BinanceUS assets may cause the exchange to halt trading for Bitcoin, Shiba Inu, and other assets indefinitely. The US Securities and Exchange Commission (SEC) has filed a motion to temporarily freeze the assets of BinanceUS, the American affiliate of the world’s largest exchange, Binance. If approved by the court, this motion may lead to a suspension of trading activities involving Bitcoin (BTC), Shiba Inu (SHIB), and other assets. The motion comes after the SEC charged Binance and its CEO, Changpeng “CZ” Zhao, with violations of security laws, including an allegation that the company misrepresented trading regulations on BinanceUS. The temporary restraining order (TRO) and preliminary injunction motion aim to prohibit BinanceUS from transferring funds or assets to Binance, CZ, or any affiliated entity. The SEC argues that such transfers would pose an imminent threat of irreversible damage to investors. Binan...