The post SEC Sues Binance And Changpeng Zhao appeared first on Coinpedia Fintech News

Binance and its CEO, Changpeng “CZ” Zhao, are facing a lawsuit filed by the U.S. Securities and Exchange Commission (SEC) for alleged violations of federal securities laws. The SEC claims that Binance operated an unlicensed stock exchange and engaged in other related infractions. This legal action follows previous allegations made in March by the U.S. regulator Commodity Futures Trading Commission (CFTC), accusing Binance and CZ of knowingly offering unregistered cryptocurrency derivatives products in the United States, which is a violation of federal regulations.