An In-Depth Look at Binances TRO Opposition Filing Insists SEC Manufactured an Emergency for Its Own Purposes
Binance fired back at the U.S. Securities and Exchange Commission’s temporary restraining order (TRO) request on Monday, assuring the court that “there is no risk” to customer assets. The exchange’s legal team dismissed the notion of an “emergency,” claiming that it is “manufactured by the SEC for its own purposes.” ‘Why Now?’—Binance Hits Back at SEC’s TRO Bid, Questions Timing and Urgency Approximately a week ago, the U.S. Securities and Exchange Commission (SEC) made a move to secure a court’s approval in order to freeze the assets of Binance US, the United States subsidiary of Binance. The SEC’s aim behind filing for a temporary restraining order was to safeguard customer assets, as stated in their request. However, Binance responded on June 12 by opposing the TRO request and asserting that there is no urgent situation and that customer assets are secure. According to Binance’s legal team, if the SEC had been aware of Binance’s regulatory violations and its open provision of