After Binance got permission from the courts to use some of its customers’ fiat funds to trade in U.S. Treasury Bills, the cryptocurrency space has grown a lot. The letter, which was signed by District Judge Amy Berman Jackson, is another important move in the long-running legal battle between Binance and the U.S. Securities and Exchange Commission.
The court’s decision lets Binance, which is officially represented by BAM Trading Services Inc. and BAM Management US Holdings Inc., set up a small amount of U.S. Treasury Bills as customer assets. This decision will give Binance more freedom in how it manages its assets and allow it to hire outside investment advisers to do the same, as long as those advisers are not connected to Binance.
Binance Approved for Treasury Bills
It provides that only “certain” customer funds currently held in the custody of BitGo shall be entitled to such investment, according to the ruling. The investments, says the ruling, shall be made in Treasury bills with a rolling four-week maturity.
The SEC said that the bitcoin exchange Binance was at fault in a different, more important case. The US did not follow the rules that the government made.
The fees for the BNB Vault program, the ICO, and the sale of BNB coins are on this list. They also have fines for not following rules that are meant to stop scams. He used to be the CEO of Binance, and he was also charged by the SEC. Under the Exchange Act, they said the trade site should be listed because he was in charge.
They are very important for safety and reliability because the US government fully backs them. This means getting cash and being sure you’ll get it back. Putting your money in this account will keep it safe and earn you a little interest. Bungee will do its best to keep users’ money safe with these different types of Treasury bills.
