- The SEC has sued Binance and Changpeng Zhao. The Securities and Exchange Commission (SEC) sued bitcoin exchange Binance and its CEO Changpeng Zhao.
The U.S. regulator brought 13 charges, including unregistered offers and sales of BNB and BUSD tokens, Simple Earn and BNB Vault products and stacking.
The suit also alleges that Binance failed to register its Binance.com platform as an exchange, broker-dealer or clearing agency, as did the U.S. unit. Zhao was sued as a "controlling person."
While the allegations of violating the rules are quite serious and weighty against Binance and it founder CZ (Changpeng Zhao). Nevertheless, it is important to recognize that Binance is a leading crypto currencies exchange with robust and professional legal team. They will certainly take all necessary measures to defend their position effectively in the court and do all what they can to survive this crisis. I am optimistic that the outcome of this lawsuit will be in favor of Binance , as potential closure of their business in USA will have far reaching consequences, not only Binance but for the entire crypto currencies market.