The Binance-SEC hearing in Washington, D.C., starts now.
Custody of Binance.US customer assets is one of the big questions being put forward by the regulator. SEC Office of Internet Enforcement chief John Reed Stark noted in an X post that Ceffu acknowledges being legally known as Bifinity in its “Terms of Use” page.
Bifinity has been identified as part of Binance Group, Stark added. If that is the case, Binance.US customer assets are in practice custodied by Binance and in danger of being siphoned off, observers add.The litigation war between the U.S. Securities and Exchange Commission and Binance continues to heat up exponentially.
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