SEC charges Binance, founder in latest crypto crackdown
By 
Jeff Dale2023-06-05T19:35:00
The Securities and Exchange Commission (SEC) on Monday charged Binance Holdings, its U.S.-based affiliate BAM Trading Services, and their founder Changpeng Zhao with a series of securities law violations.
The agency announced 13 charges in its case regarding the world’s largest cryptocurrency asset trading platform, including:
- Operating unregistered exchanges, broker-dealers, and clearing agencies;
- Misrepresenting trading controls and oversight on the Binance.US platform; and
- Unregistered offer and sale of securities and crypto assets, including an exchange token, stablecoin, crypto-lending products, and a staking-as-a-service program.
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