The U.S. Securities and Exchange Commission (SEC) is investigating Binance Holdings Limited and its affiliates, including CEO Zhao, for potential issues related to the custody and control of customer assets on BinanceUS, specifically questioning "whether Binance Holdings Limited (’BHL’), Zhao, or any of their affiliated entities have any custody, control, or the ability to transfer BAM’s Customer Assets." Concurrently, Binance has directed prime brokers to implement more rigorous verification processes to exclude U.S. investors from its cryptocurrency exchange. This includes demanding additional customer information such as office addresses and the locations of employees and founders from firms like FalconX and Hidden Road.
Breaking: @binance tasks prime brokers with checks to "root out" US investors 👀 https://t.co/bpowXQndbp
studying another binance listing https://t.co/ziWOB01bDx
Bloomberg: Binance has asked prime brokers to conduct stricter inspections to prevent American investors. Binance asked FalconX and Hidden Road, among others, to provide more customer information, including office addresses and the locations of employees and founders.…
Binance has asked prime brokers to run more stringent checks to keep US investors off its crypto exchange, sources say https://t.co/iKLgcVF7EO
Binance has asked prime brokers to run more stringent checks to keep US investors off its crypto exchange, sources say https://t.co/T3OSQIGn8P
The SEC wants to know: Who holds the keys to @BinanceUS's assets? ✍️ by @the_postman_ 📃 via @SECGov 🗞 Read more: https://t.co/V7AawFUsr5 https://t.co/ZGkLJHgiNG
🧐 "In the words of the SEC, the question is “whether Binance Holdings Limited (’BHL’), Zhao, or any of their affiliated entities have any custody, control, or the ability to transfer BAM’s Customer Assets.” ✍️ by @the_postman_ 🗞 Read more: https://t.co/hLwSqJG7Vf https://t.co/Leqi8ITBVC