The assets of BAM Trading and BAM Management, the US subsidiaries of Binance, were frozen.
There has been a new development in the litigation process between the SEC and Binance. The freeze order requested by the SEC from the court regarding Binance was accepted. The US court froze the assets of BAM Trading and BAM Management, the US subsidiary of Binance, in the country.
The SEC’s request to freeze the assets of Binance affiliates was upheld by the court, Coingraph reported, citing local sources.
US Court Moves Binance’s US Affiliates
In the case between the SEC and Binance, a new decision has come out of the court. The US court granted the SEC’s request to freeze the assets of BAM Trading and BAM Management. These two organizations serve as US subsidiaries of Binance.
Earlier, the SEC had requested the freezing of assets affiliated with BAM Management US Holdings and BAM Trading Services in an application to the Washington DC District Court. This request, which was seen as part of the Binance investigation, was considered an urgent application by the court.
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