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France 24

Business

Carys GARLAND

US regulators accuse crypto exchange Binance of violating securities laws

Binance SEC Changpeng Zhao Lawsuit the US Securities and Exchange Commission Cryptocurrency

BUSINESS DAILY © FRANCE 24

The US Securities and Exchange Commission has filed a lawsuit against cryptocurrency exchange Binance and its CEO, Changpeng Zhao, accusing the platform of engaging in a "web of deception". The SEC's civil complaint lists 13 charges, including operating as an unregistered exchange, and accuses Binance of diverting investor funds to other companies owned by Zhao. It's the latest blow to the platform, which is the subject of another lawsuit filed by the The Commodity Futures Trading Commission.

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