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Under the agreement, which still needs sign-off from the federal
judge overseeing the case, Binance.US will take steps to make
sure that no Binance Holdings officials have access to private
keys for its various wallets, hardware wallets or root access to
Binance.US's Amazon Web Services tools, the filings showed.
The proposed agreement comes after the SEC sued Binance, its CEO
and founder Changpeng Zhao and Binance.US's operator last week,
in a dramatic escalation of a crackdown on the industry by U.S.
regulators. The SEC also sued major U.S. exchange Coinbase after
that.
Binance.US and SEC did not immediately respond to Reuters'
request for comment.
The U.S. affiliate of Binance halted dollar deposits last week
and gave customers until June 13 to withdraw their dollar funds,
after SEC asked a court to freeze its assets.
Other provisions in the proposed agreement will see Binance.US
create new crypto wallets that the global exchange's employees
have no access to, provide additional information to the SEC and
agree to an expedited discovery schedule, the filings said.
(Reporting by Baranjot Kaur in Bengaluru; Editing by Stephen
Coates and Louise Heavens)
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