One day after regulators sued Binance and its CEO, Changpeng Zhao, for allegedly operating a “deception network, The United States Securities and Exchange Commission has applied to a federal court for a temporary restraining order to freeze the US assets of the Binance cryptocurrency exchange.
The SEC filed a complaint against Binancethe world’s largest crypto asset exchange, to be managed irregularly funds from its userslying to investors and regulators, among other accusations.
In the middle of the afternoon on Monday, the North American regulator filed a lawsuit against the crypto asset exchange and also against its founder, Changpeng Zhaoto those who 13 counts indicted for “a variety of securities law violations”.
Among other things, the SEC alleges that “although Zhao and Binance publicly asserted that US clients were restricted from transacting on Binance.com, Zhao and Binance actually subverted their own controls to secretly allow high-value US clients to continue trading on Binance.”.
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