Post
Topic
Board Bitcoin Discussion
Re: No impact of SEC freezing USA Binance assets
by
OgNasty
on 07/06/2023, 16:52:34 UTC
https://www.cnbc.com/2023/06/06/sec-asks-for-emergency-order-to-freeze-binance-us-assets-anywhere-in-the-world.html

There is a shocking development where SEC asked to freeze Binance assets. However, the immediate effect of this news was not negative. Bitcoin prices and other coins also moved up even after this news. It shows the trust people have on bitcoin. Those who were investing casually are already out of the scene. The current holders have got strong hands and it means that prices for good crypto coins will only move up from here.

When I initially read this news I thought that the SEC was going after Binance with this asset freeze.  That would have been big news.  If they're going after Binance.us, that basically means nothing.  Nobody uses Binance.us and I can't imagine they have enough funds being held to matter.  It does display a little bit that the SEC has limits of what it is capable of doing.  I'm sure their main target was Binance, but had to settle for some tiny company that licenses their name instead.  Honestly, Binance.us imploding completely would hardly be news.  It does show the SEC is continuing to ramp up their attacks against crypto though, which I guess is concerning.