SEC Sues Binance for Securities and Avoiding US Law

Breaking News
Written By Keegan King

In its latest fight conflict against web3, the SEC has filed a lawsuit against Binance and Changpeng Zhao (CZ) alleging that the company has skirted regulations with its US branch acting as a regulatory shield against the international crypto exchange and allegations that the company has been mixing customer funds with investment funds in a separate European company also operated by CZ. 

The lawsuit comes when Gary Gensler is under intense scrutiny by conservatives who see him interfering with cryptocurrencies without providing clear or transparent reasoning. However, there is a big difference between the Wells Notice that Coinbase received earlier this year and the much more legitimate claims that Binance is trying to avoid US law enforcement.

Keegan King

Keegan is an avid user and advocate for blockchain technology and its implementation in everyday life. He writes a variety of content related to cryptocurrencies while also creating marketing materials for law firms in the greater Los Angeles area. He was a part of the curriculum writing team for the bitcoin coursework at Emile Learning. Before being a writer, Keegan King was a business English Teacher in Busan, South Korea. His students included local businessmen, engineers, and doctors who all enjoyed discussions about bitcoin and blockchains. Keegan King’s favorite altcoin is Polygon.

https://www.linkedin.com/in/keeganking/
Previous

Israel, TASE, to Launch State Digital Bond
Next

Do Kwon Granted Bail Again by Montenegrin Court