The Securities and Exchange Commission says Binance was intentionally trying to avoid regulation.
The Securities and Exchange Commission has sued cryptocurrency company Binance and its CEO Changpeng Zhao for misuse of investor funds and for breaking a range of securities laws.
Binance, the world's biggest crypto exchange, is a limited liability company run out of the Cayman Islands.
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Binance mishandled funds and violated securities laws, according to SEC lawsuitThe world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC.
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Binance mishandled funds and violated securities laws, according to SEC lawsuitThe world’s largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC. Filed in the U.S. District Court for the District of Columbia, the Securities and Exchange Commission lawsuit on Monday lists thirteen charges against the firm — including commingling and divert customer assets to an entity Zhao owned called Sigma Chain. Binance is a Cayman Islands limited liability company founded by Zhao.
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Binance mishandled funds and violated securities laws, according to SEC lawsuitThe world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC.
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US SEC sues Binance, founder Zhao alleging securities law violationsThe world's largest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Securities and Exchange Commission on Monday for failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls, as well as for operating an unregistered securities exchange.
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SEC sues Binance and CEO Changpeng Zhao for U.S. securities violationsBinance and Zhao allegedly undermined the company's own compliance, courted U.S. investors, and traded against its customers using market-making companies.
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SEC sues Binance in US District Court for unregistered securities operationsThe lawsuit also named Binance CEO Changpeng Zhao as a defendant.
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