The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Binance, one of the world’s largest cryptocurrency exchanges, and its CEO, Changpeng “CZ” Zhao, according to an official announcement from the SEC.

The regulatory body is accusing Binance of 13 charges of disregarding many federal securities regulations, including allegations of operating an unauthorized stock exchange under Binance.com and Binance.US. The official case file further states: 

“This case arises from Defendants’ blatant disregard of the federal securities laws and the investor and market protections these laws provide.”

Despite publically stating that U.S. customers were barred from transacting on Binance.com, the SEC alleges that Zhao and “Binance in reality subverted their own controls to secretly allow high-value U.S. customers to continue trading on the Binance.com platform:”

“Further, the SEC alleges that, while Zhao and Binance publicly claimed that Binance.US was created as a separate, independent trading platform for U.S. investors, Zhao and Binance secretly controlled the Binance.US platform’s operations behind the scenes.”

CZ took to Twitter before the SEC published the official announcement, tweeting a “4,” meaning to ignore F.U.D, or fear, uncertainty, and doubt:

4.

Our team is all standing b

Go to Source to See Full Article
Author: Emily Tonelli

Did you like this?
Tip BTC Newswire with Cryptocurrency

• Bitcoin
• Bitcoin Cash
• Ethereum
• Litecoin
• Monero
• ZCash

Donate Bitcoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Bitcoin Cash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send bitcoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Ethereum to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Ether:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Litecoin to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Litecoin:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate Monero to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some Monero:

Donate via Installed Wallet Copy

[X] Click Here to Hide Donation Details

Donate ZCash to BTC Newswire

Scan the QR code or copy the address below into your wallet to send some ZCash:

Copy ZCash Address

[X] Click Here to Hide Donation Details