Binance and its CEO Changpeng Zhao are facing accusations from the US Securities and Exchange Commission (SEC) of violating securities rules, the latest development in the crypto exchange’s ongoing legal troubles. The SEC alleges that Binance operated unregistered exchanges, sold unregistered securities, and misrepresented trading controls, among other violations. This marks a significant escalation in the situation for Binance, one of the world’s largest cryptocurrency exchanges.
https://www.bloomberg.com/news/articles/2023-06-05/sec-sues-binance-and-ceo-zhao-for-breaking-us-securities-rules