https://arstechnica.com/tech-policy/2023/06/sec-sues-binance-says-it-evaded-us-law-with-extensive-web-of-deception/

The US Securities and Exchange Commission today sued Binance and its CEO/founder Changpeng Zhao, alleging that the defendants' "blatant disregard" of federal law "enriched themselves by billions of US dollars while placing investors' assets at significant risk."

"Defendants have unlawfully solicited US investors to buy, sell, and trade crypto asset securities through unregistered trading platforms available online at Binance.com and Binance.US," alleged the SEC complaint in US District Court for the District of Columbia.