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SEC Shakes Crypto with Binance Suit

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The Binance logo.

Binance said in a social media post it has been cooperating with the SEC’s investigation, but the SEC “chose to act unilaterally and litigate.”

Credit: Binance

Binance and its founder Changepeng Zhao have been charged with violating "a slew of U.S. securities laws," according to The Associated Press.

"Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law," said SEC Chair Gary Gensler.

Charges include operating as an unregistered exchange and misusing investor funds — conduct strikingly similar to what landed FTX and its founder, Sam Bankman-Fried, in hot water.

From The Hill
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