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<p class="is-style-lead">The U.S. Securities and Exchange Commission is taking legal action against Binance and its CEO, Changpeng Zhao (CZ).</p>



<p>The SEC <a href="https://www.docdroid.net/I02zzqT/sec-v-binance-4-pdf" target="_blank" rel="noopener">lawsuit</a> claims that Binance &#8220;unlawfully solicited&#8221; customers from the U.S. to trade assets on unregistered platforms. Also, the securities regulator alleged that contrary to what the defendants claimed, Binance and CEO Zhao were directly involved in Binance.US operations. </p>



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<p>Meanwhile, the latest development comes shortly after another federal regulator, the Commodity Futures Trading Commission (CFTC), also <a href="https://crypto.news/us-cftc-takes-legal-action-against-binance-crypto-markets-fall/">sued</a> Binance for operating without proper registration, thereby violating the Commodity Exchange Act. </p>



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<iframe loading="lazy" title="BREAKING: SEC Takes on Binance! RATTLES BITCOIN - C.Z. Responds!" width="1020" height="574" src="https://www.youtube.com/embed/nV1tjd2uAfM?feature=oembed" frameborder="0" allow="accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share" allowfullscreen></iframe>
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<p>Meanwhile, Binance CEO Changpeng Zhao stated that the company will issue a statement once they see the SEC complaint.&nbsp;</p>



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https://twitter.com/cz_binance/status/1665742100845961217?t=cNOp2buAjijW6iaFIyrjhA&#038;s=19
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<p>Amid the regulatory issues mounting against Binance, recent reports are stating that the crypto exchange could see a new CEO, Richard Teng, who was recently <a href="https://crypto.news/binance-appoints-former-singapore-exec-as-head-of-regional-markets/">appointed</a> to oversee Binance&#8217;s head of regional markets outside of the United States.</p>



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SEC sues Binance and CZ for securities violations

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