Coin

<ul class="news-points"> 
 <li>The SEC alleges Binance of violating the federal securities law as it relies upon Ceffu.</li> 
 <li>With the help of Ceffu, Binance allegedly moved company assets overseas.</li> 
 <li>The filing also accuses Binance of submitting inadequate information for the previous lawsuit.</li> 
</ul> 
The <a href="https://coinedition.com/crypto-industry-braces-for-binances-response-to-secs-sealed-filing/" rel="noopener noreferrer nofollow">Securities and Exchange Commission (SEC) recently alleged Binance</a> of violating federal securities law by transporting assets overseas. According to a court filing on Thursday, Binance’s reliance upon its custody partner Ceffu, allegedly violates the SEC’s norm that required restrictions on the platform’s foreign trade. 
Earlier this year, the <a href="https://coinedition.com/secs-lawsuit-against-binance-could-restrict-its-expansion-in-hong-kong/" rel="noopener noreferrer nofollow">SEC charged Binance</a> for the illegal intervention of Binance CEO Changpeng Zhao in the operations of Binance US, alleging that the company and Zhao misled customers. In addition, the regulators had also imposed restrictions on the movement of company assets abroad. 
In a previous <a href="https://storage.courtlistener.com/recap/gov.uscourts.dcd.256060/gov.uscourts.dcd.256060.108.0.pdf" target="_blank" rel="noopener noreferrer nofollow">filing</a> submitted by the US-affiliated Binance US, previously known as BAM Trading, the platform pointed out that they have produced “verified accounting” to prove that all customer funds are safe. In addition, the platform … 
The post <a rel="noopener noreferrer nofollow" href="https://coinedition.com/sec-suspects-binances-overseas-trade-violates-federal-securities-law/">SEC Suspects Binance’s Overseas Trade Violates Federal Securities Law</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://coinedition.com">Coin Edition</a>.

SEC Suspects Binance’s Overseas Trade Violates Federal Securities Law

Coin Edition

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