SEC Files Lawsuit Against Binance and CZ for Unregistered Securities Operations
On June 5, the United States Securities and Exchange Commission (SEC) took legal action against Binance, its U.S. platform, and Changpeng Zhao (CZ) in the District Court for the District of Columbia. The SEC has filed 13 charges against Binance, accusing the company of engaging in unregistered offers and sales of tokens such as BNB (BNB) and BUSB.
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Our team is all standing by, ensuring systems are stable, including withdrawals, and deposits.
We will issue a response once we see the complaint. Haven't seen it yet. Media gets the info before we do.
🙏
— CZ 🔶 Binance (@cz_binance) June 5, 2023
The charges also extend to Binance’s products, including Simple Earn, BNB Vault, and its staking program. Furthermore, the SEC alleges that Binance failed to register its Binance.com platform as an exchange or a broker-dealer clearing agency. Additionally, Binance and BAM Trading are accused of failing to register Binance.US as an exchange, broker, and clearing agency. CZ, as a “controlling person,” has also been named as a defendant in the lawsuit.
