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Saturday, June 18th, proved to be a significant day in Binance's corporate saga. The U.S. District Court for the District of Columbia, Judge Amy Berman Jackson, green-lighted the "Proposed Stipulation and Consent Order" agreed upon by Binance, its U.S. subsidiary Binance.US, and the SEC. The order directs Binance to "repatriate" all associated fiat and cryptocurrency assets by a prescribed date, as defined in the court's decision.
Furthermore, the court's stipulation places restrictions on the global officials of Binance, specifically prohibiting them from obtaining the private keys to any wallets, be it cold or hot. Following the resolution, CZ took to Twitter to share his optimism about Binance's unobstructed future. He expressed his firm belief that the SEC's call for emergency relief was unwarranted. CZ is confident that this newfound clarity will allow Binance to forge ahead without any impediments.
Despite the various recent regulatory obstacles, CZ has underlined Binance's unwavering commitment to its operations. The CEO of Binance, while expressing satisfaction about the resolution of the SEC matter, reassured users of the safety and security of their funds across all Binance-related services.
This resolution has ushered in a new era of stability for Binance, allowing CZ and his team to concentrate on the future. As the chapter on regulatory uncertainty closes, a promising new one begins, in which Binance can aspire to flourish unencumbered.
