Binance issues cease and desist to Binance Nigeria Limited; after U.S. SEC legal battles.
from the United States Securities Exchange Commission. The U.S. Commission had filed 13 charges against Binance entities and their CEO, Changpeng Zhao.
Some of the charges include operating unregistered exchanges, broker-dealers, and clearing agencies and misrepresenting trading controls. The U.S. SEC stated that despite earning $11.6 billion from U.S. customers, Binance and Zhao failed to register as an exchange, broker-dealer, or clearing agency. Binance Holdings Limited was also accused of granting access to Binance.com to high-value U.S. investors.
In a recent development, United States Judge Amy Berman Jackson granted approval on June 17 to an agreement reached between Binance.US, Binance, and the Securities and Exchange Commission. This agreement resulted in the dismissal of a previous temporary restraining order that aimed to freeze all Binance.US assets.Binance, which is available in about 100 countries, registered its headquarters, Binance Holdings Limited, in George Town, Cayman Islands, in 2017.
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