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SEC Shakes Crypto with Binance Suit

By The Hill

June 6, 2023

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Binance and its founder Changepeng Zhao have been charged with violating "a slew of U.S. securities laws," according to The Associated Press.

"Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law," said SEC Chair Gary Gensler.

Charges include operating as an unregistered exchange and misusing investor funds — conduct strikingly similar to what landed FTX and its founder, Sam Bankman-Fried, in hot water.

From The Hill
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