The US Securities and Exchange Commission (SEC) is seeking permission from courts to track down Binance CEO Changpeng Zhao in an “alternative” way.
In a new lawsuit, the SEC is asking the District of Columbia court for permission to freeze the assets of the companies operating as Binance.US: BAM Trading and BAM Management, and to allow Binance CEO Changpeng Zhao to serve through non -specified unspecified traditional methods.
In the document, the SEC says it wants to “exercise its equitable power” to “repatriate and freeze” the assets of BAM Management and BAM Trading and force the companies to provide full accounting information and refrain from concealment. or destroy relevant documents.
In addition, the regulatory body is also seeking court approval to serve Binance and Zhao “through alternative means,” though it is unclear exactly what is implied by that.
Earlier this month, the SEC sued Binance for allegedly violating securities laws. A day later, it also sued Coinbase on similar grounds and filed a motion to freeze the assets of BAM Trading and BAM Management.
“Plaintiff U.S. Securities and Exchange Commission (“SEC”) requests this Court to issue a temporary restraining order: freezing of assets (both known and unknown) of defendant BAM Management US Holdings Inc. (“BAM Management”) and BAM Trading Services Inc. (“BAM Trading”) (collectively “BAM”).”
In the original complaint against Binance, SEC Chairman Gary Gensler said the company is being sued for “an elaborate web of deceit, conflict of interest, lack of disclosure and calculated evasion of the law.”
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