The US Securities and Exchange Commission (SEC) on Monday sued Binance, the largest cryptocurrency platform in the world, for violating its operations with the rules in force in the country.
The lawsuit, filed in Washington federal court, accuses the company of, among other things, mismanaging user funds and lying to investors and regulators.
The SEC has filed a total of 13 charges against Binance and its founder, Changpeng Zhao, accusing them of openly defying U.S. stock exchange laws and making billions of dollars in exchange for “significant exposure” to their clients’ assets.
According to the court filing, Binance has allowed US residents to use its platform when the company is not registered with US authorities, among other things.
“Zhao and Binance’s divisions not only knew the rules, but deliberately chose to circumvent them and put customers and investors at risk in an attempt to maximize their own profits,” North American regulator President Gary said in a statement. Gensler.
Author: Portuguese
Source: CM Jornal
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