Court Records: Request for SEC and Binance to negotiate resolution on whether to freeze assets, scheduling two hearings

According to the court records on June 13th in the United States:

According to the court records on June 13th in the United States: The court has requested that the plaintiff SEC and the defendant Binance's related company in the United States, represented by Zhao Changpeng, must clarify their understanding of each other's plans before 1:00 pm US time. This includes the SEC's proposed temporary restraining order for asset freeze and Binance's proposed non-freezing resolution. The SEC must also inform Binance of the modifications needed in their proposed solution to address the SEC's concerns regarding US assets. Currently, both parties have presented the sections they believe need modification: SEC's proposed modifications, Binance's proposed modifications, and the SEC's expected final judgment version, all of which must be reported by this Thursday. To understand the details of the negotiation, a report must be submitted by this Thursday. To understand the Binance US freeze case and Binance's arguments. Former SEC lawyer John Reed Stark commented that since a hearing is scheduled for 2:00 pm US time, there is significant time pressure on both parties. He also noted that in the past, the SEC's requests for temporary restraining orders were mostly aimed at small companies and a small group of individuals, making it rare for a large company like Binance to be the target. This may be due to the SEC not only finding overwhelming evidence of fraud but also recognizing the risks faced by investors' funds. Therefore, any consent decree required by the SEC must effectively address these concerns.