A top US markets regulator charged cryptocurrency giant Binance and its founder Changpeng Zhao with multiple violations.
A top US markets regulator has charged cryptocurrency giant Binance and its founder Changpeng Zhao with multiple violations.WASHINGTON - A top US markets regulator charged cryptocurrency giant Binance and its founder Changpeng Zhao with multiple violations, in another move by Washington against the once high-flying sector.
Zhao was often presented as the archrival of crypto tycoon Sam Bankman-Fried, the founder of FTX, who was arrested in the Bahamas in December and faces a US criminal trial later this year. The charge sheet accuses Binance of failing to uphold standards that are required of a company operating as a derivatives market and dealing with major US trading companies.At Zhao's direction, Binance employees and customers were directed to skirt compliance controls"to maximize corporate profits," the regulator added.
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