Among other allegations, the SEC says two Binance-linked tokens, BNB and BUSD, were securities that the firm improperly offered and sold
In a 136-page complaint filed Monday in US federal court in Washington, the SEC laid out a range of alleged violations against the world’s biggest crypto exchange and its leader. For years, they flouted investor protection rules, the watchdog said. The case from Wall Street’s main regulator adds to legal headaches for Zhao and Binance.
“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,” the firm said. “We intend to defend our platform vigorously.” In addition, the agency accused Binance of misleading investors about controls in place at the US entity to prevent manipulative trading. “The supposed controls were virtually non-existent,” the lawsuit said, alleging that from at least September 2019 until June 2022, Sigma Chain — a trading firm owned and controlled by Zhao — used wash trading to artificially inflate Binance.US’s trading volume.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SEC sues Binance and CEO Changpeng Zhao for breaking U.S. securities rulesBinance and its chief executive Changpeng Zhao, were accused of breaking U.S. rules, says Securities and Exchange Commission. Read on
Read more »
SEC sues Binance and CEO Changpeng Zhao for breaking U.S. securities rulesBinance and its chief executive Changpeng Zhao, were accused of breaking U.S. rules, says Securities and Exchange Commission. Read on
Read more »
U.S. SEC sues Binance, founder Changpeng Zhao for alleged securities law violationsThe SEC’s complaint, filed in federal court in Washington, D.C., accuses Binance of failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls
Read more »
SEC sues Binance and CEO Changpeng Zhao for breaking U.S. securities rulesBinance and its chief executive Changpeng Zhao, were accused of breaking U.S. rules, says Securities and Exchange Commission. Read on
Read more »
Binance mishandled funds and violated securities laws, according to SEC lawsuit - BNN BloombergThe world's largest cryptocurrency exchange Binance and its founder Changpeng Zhao are accused of misusing investor funds, operating as an unregistered exchange and violating a slew of U.S. securities laws in a lawsuit filed by the SEC.
Read more »
SEC files 13 charges against Binance and CZ for breaking US securities lawsThe U.S. SEC has filed 13 charges against Binance and its CEO, Changpeng Zhao, for operating an illegal exchange in the U.S. and for the misuse of customer funds.
Read more »