2023-06-05 15:36:15
A Bloomberg reported just a few minutes ago that the US SEC (Securities and Exchange Commission) is suing the world’s largest cryptocurrency exchange, Binance, and its CEO, Changpeng CZ Zhao, for violating federal securities laws.
The company is already facing another lawsuit recently filed by the Commodity Futures Exchange Commission (CFTC) once morest the cryptocurrency exchange. As we reported back in March, the CFTC alleged that Binance offered unregistered crypto-derivative products and encouraged US customers to use VPNs to bypass compliance checks. At the time, the CFTC singled out the role of Zhao, who, according to the authority, knew that the company’s activities were subject to registration and regulatory requirements, but did not address them.
The US Securities and Exchange Commission (SEC) claimed today that the crypto exchange Binance operated the exchange without the permission of the US authorities.
Of course, Changpeng Zhao immediately reacted to the news spreading at lightning speed. The head of Binance is the He wrote on Twitter, that the company’s team is ready to ensure the stability of the platform, i.e. withdrawals and deposits. The company will provide more information as it learns.
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