The Securities and Exchange Commission is trying to freeze the assets of Binance, the world’s largest cryptocurrency exchange. In an emergency motion for a temporary restraining order filed Tuesday (PDF), the SEC says it has made this decision to “ensure the safety of customer assets.”

The filing also claims that Binance has engaged in “violative conduct” for years in “disregard of the laws of the United States, evasion of regulatory oversight, and open questions about various financial transfers and the custody and control of Customer Assets.”

As part of the order, Binance and CEO Changpeng “CZ” Zhao are required to give up “possession, custody, or control over Customer Assets” within five days, with Zhao nor the company having the…

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