BREAKING: SEC Sues Binance and CEO Zhao for Breaking US Securities Rules

in #crypto • last year

Bloomberg reported In a recent development, the United States Securities and Exchange Commission (SEC) has taken legal action against Binance, one of the leading cryptocurrency exchanges, and its CEO, Changpeng Zhao (CZ). The SEC accuses Binance and CZ of violating US securities rules, marking a significant milestone in the ongoing regulatory scrutiny faced by the crypto industry

The SEC Lawsuit against Binance and CZ

The US Securities and Exchange Commission (SEC) has recently accused Binance US, a prominent cryptocurrency exchange, of offering trading services for several digital assets that are classified as securities. The SEC alleges that Binance US allowed trading of cryptocurrencies including BNB, BUSD, SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI, which fall under the category of securities. This accusation raises concerns about the regulatory compliance of Binance US and its potential impact on the broader cryptocurrency market.
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