Judge allows Binance.US to invest user assets in treasuries

Binance.US has received judicial approval to invest certain customer assets in U.S. Treasury bills. This decision is part of an order setting conditions for the crypto exchange.

• Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia signed the order.
• Binance.US must work with third-party advisers to invest BAM Trading Services Inc. and BAM Management US Holdings Inc.’s assets.
• Crypto must be transferred to a third-party custodian not affiliated with Binance, and BAM can invest customer fiat funds in Treasury bills.

Judge Jackson has been overseeing the SEC’s case against Binance. The SEC accused Binance and former CEO Changpeng Zhao of misleading customers, allowing U.S. investors to access Binance.com, misdirecting capital, and operating as an unregistered exchange. Zhao is currently serving jail time for charges from the Department of Justice. Last month, Jackson largely rejected Binance’s bid to dismiss the SEC case but did dismiss some SEC points, including that secondary sales of BNB were securities.