In a recent development surrounding the United States Securities and Exchange Commission (SEC) lawsuit against Binance and its U.S. arm, BAM Trading, a proposed consent order has been filed. This order aims to alleviate some of the restrictions imposed by the SEC's initial asset freeze request. However, the court's approval is still pending as there are ongoing discussions and clarifications needed between the SEC and Binance.

The proposed consent order, if approved, would allow BAM Trading to transfer its U.S.-based assets to new wallets. It would also enable the company to fulfill financial commitments such as payroll and other ordinary-course expenditures. As stated in the document, BAM Trading and BAM Management would be permitted to make payments for goods and services, salaries, professional fees, and other operational expenses.

While the proposed consent order offers certain freedoms, there are stipulations in place. Notably, Binance is prohibited from making payments or transferring assets to benefit any Binance entity or individual acting on behalf of Binance. Furthermore, the order explicitly bars Binance CEO Changpeng Zhao from accessing any BAM Trading or Binance.US assets.

The Asset Freeze Dispute and Court Proceedings: Following the SEC's initial asset freeze request, BAM Trading responded by filing an opposition argument. They asserted that the SEC's rationale for the freeze did not meet the burden of proof required by the court. Consequently, the court is currently reviewing the proposed consent order and seeking further clarification due to the disagreement between the SEC and Binance.

The proposed consent order represents progress towards resolving the asset freeze dispute between the SEC and Binance, its final approval is pending court review. The ongoing discussions and clarifications sought by the court highlight the complexities and disagreements surrounding the case. As the situation unfolds, stakeholders eagerly await a resolution that will shape the future of Binance and its U.S. operations.

Please note that the information provided in this article is based on the latest available information at the time of publishing and is subject to change as the situation evolves.