SEC’s lawsuit against Binance and CEO Zhao was a matter of ‘when, not if,’ industry players say
https://techcrunch.com/2023/06/05/binance-lawsuit-sec/
The SEC hit Binance, the world’s largest crypto exchange, and its CEO Changepng Zhao with 13 charges in a suit on Monday, including allegations of lying to regulators about its operations.
Much of the SEC’s suit deals with how Binance and its Binance.US subsidiary operated, with the latter falling under the umbrella of BAM Trading. It also touches on securities violations, including details on several crypto tokens that it considers to be securities, and how the Binance team worked to evade U.S. securities law and regulatory oversight.