The SEC requested a temporary restraining order to freeze the assets of the crypto asset trading platform Binance Holdings Limited, following recent charges for failing to register with the agency.

Witnesses testified before the House Committee on Agriculture on the latest legislative proposal to regulate digital assets and on providing regulatory clarity for digital asset spot markets.

The SEC charged the largest crypto asset trading platform in the United States for operating as a broker-dealer, exchange and clearing agency without registering with the SEC.

The SEC charged Binance Holdings Limited –- the largest international crypto asset trading platform -- along with its beneficial owner and affiliated entities, with numerous violations of the securities laws.

House Financial Services Committee Chair Patrick McHenry (R-NC) and House Agriculture Committee Chair Glenn Thompson (R-PA) proposed legislation that would establish a digital asset framework and provide for related joint rulemaking from the CFTC and the SEC.