The SEC is suing Binance and CEO Changpeng Zhao for violating securities regulation
Thereported that the lawsuit accuses the world's largest cryptocurrency exchange of breaking US securities rules and for operating an illegal exchange.
The SEC alleged that Binance diverted customers' funds to a trading firm called Sigma Chain that was under Zhao's control. The regulator also said Sigma Chain conducted fraudulent trades to artificially inflate Binance's volume.In a, Binance said it was disappointed by the lawsuit, adding that it had recently been in"good-faith discussions" to reach a settlement that would've resolved the SEC's probe.
"While we take the SEC's allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis," Binance said."We intend to defend our platform vigorously. Unfortunately, the SEC's refusal to productively engage with us is just another example of the Commission's misguided and conscious refusal to provide much-needed clarity and guidance to the digital asset industry.""For nearly two and a half years, Binance.
"Simply put, today's filing is unjustified by the facts, by the law, or by the Commission's own precedent." Binance also denied any allegations that user assets on Binance.US were at risk and said all user assets on Binance and affiliates, including Binance.US, are safe and secure.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC Sues Crypto Exchange Binance, CEO Changpeng ZhaoBREAKING: Crypto exchange binance and CEO cz_binance sued by the SEC on allegations of violating federal securities laws. nikhileshde reports.
Read more »
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.
Read more »
SEC Sues Crypto Exchange Binance, CEO Changpeng Zhao Over Multiple Securities Violation AllegationsUPDATE: The price of bitcoin has plunged under $26K as the details roll in from the SEC's suit against Binance and CZ. nikhileshde and IanAllison123 report
Read more »
Bitcoin drops after SEC files 13 charges against Binance, founder Changpeng ZhaoMajor cryptocurrencies sank on Monday, after the Securities and Exchange Commission charged the world's largest crypto exchange, Binance Holdings Inc., and...
Read more »
SEC sues Binance in US District Court for unregistered securities operationsThe lawsuit also named Binance CEO Changpeng Zhao as a defendant.
Read more »
SEC’s Binance suit contains heavy mix of predictable charges, novel revelationsThe U.S. Securities and Exchange Commission (SEC) suit against Binance, Binance.US and Binance CEO Changpeng Zhao contained many details likely to attract as much attention as the charges themselves.
Read more »