SEC Sues Crypto Exchange Binance

Reading Time: < 1 minute

The US Securities and Exchange Commission instituted a lawsuit against the world’s largest crypto exchange, Binance, and its founder Changpeng Zhao alleging that the exchange was operating illegally in the US.

The complaint alleges that they enriched themselves by billions of US dollars and placed investors’ assets at significant risk, while also engaging in multiple unregistered exchanges and defrauding investors about its surveillance and trading controls.

In response, Binance stated that they were disappointed and had been actively cooperating with the SEC’s investigations.