SEC Sues Binance and Changpeng Zhao Alleging Securities Laws Violation
By admin
Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.
- The Securities and Exchange Commission filed a complaint against Binance, the world’s largest cryptocurrency exchange on June 5th.
- The complaint also targets Changpeng Zhao, the chief executive officer of the exchange.
- Binance has been under high regulatory pressure for multiple months and its US branch is reportedly seeking to reduce CZ ownership stake as a way of reducing said pressure.
- Binance has also recently been sued by the Commodity Futures Trading Commission.
- US regulators have been increasingly targeting cryptocurrency firms since the downfall of Sam Bankman-Fried’s FTX in November 2022.
This is a breaking story and will be updated as new details emerge.
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The post SEC Sues Binance and Changpeng Zhao Alleging Securities Laws Violation appeared first on Tokenist.
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