Today the Securities and Exchange Commission (SEC) sued the cryptocurrency exchange Binance, its U.S. affiliate and its founder Changpeng Zhao (CZ). Amongst a raft of claims regarding securities violations, it alleges it failed to register as a securities exchange, broker dealer, and clearing agency and issued an unregistered security (BNB).
Former acting Comptroller of the Currency Brian Brooks was briefly CEO of Binance.US for four months in 2021 before resigning. The SEC’s lawsuit cites testimony from Brooks.
Its allegations also repeat claims filed in March by the CFTC that Binance put up a sham appearance of preventing U.S. customers from trading on the international Binance.com exchange.
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