BUSD

The US Securities and Exchange Commission (SEC) has <a href="https://www.sec.gov/news/press-release/2023-101" rel="noopener noreferrer nofollow">reportedly</a>filed 13 charges against the world’s largest crypto exchange Binance, its entities, and its founder Changpeng Zhao (CZ) for violating the US securities law. The charges filed in the lawsuit at the D.C. federal district court include “operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities.”The SEC took to Twitter to inform the community that Binance has been sued with a variety of charges:<img src="https://academy-public.coinmarketcap.com/srd-optimized-uploads/6199d92b42af4f4ebe9bb1002c23dd95.png" />The securities regulator alleged that Zhao and Binance have control over the assets of their customers, enabling an easy diversion of customer assets, even to Sigma Chain, an entity owned and controlled by Zhao. Binance is also alleged to have diverted billions of dollars to Merit Peak, another company controlled by Binance CEO Zhao.Read full article at <a href="https://cryptotale.org/us-sec-sues-binance-for-mishandling-billions-of-dollars/" rel="noopener noreferrer nofollow">CryptoTale.</a>

US SEC Sues Binance for Mishandling Billions of Dollars

CryptoTale

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