TechFlow news — On July 19, in the Securities and Exchange Commission’s (SEC) lawsuit against Binance Holdings Limited, the U.S. District Court for the District of Columbia issued an Order on Motion for Miscellaneous Relief (Document #251), approving BAM Trading Services Inc. and BAM Management US Holdings Inc. (collectively “BAM”) to invest customer fiat funds in U.S. Treasury securities. BAM is also authorized, under specific conditions, to invest corporate assets with third parties and to hold cryptocurrency assets in custody with unaffiliated U.S.-based third-party custodians.
BAM Trading and BAM Management are U.S. entities operating Binance.US. While BAM is affiliated with Binance in operations and branding, it must comply with U.S. laws and regulatory requirements.
