The United States Securities and Exchange Commission charged Binance Holdings Ltd. and its CEO, Changpeng Zhao, of mishandling client funds, misleading investors and regulators, and violating securities rules.
In a 136 pages In a complaint filed Monday in US federal court in Washington, the SEC filed a series of alleged violations against the world’s largest crypto exchange and its leader. For years, they ignored basic know-your-customer rules, letting Americans open accounts and trade incorrectly, the watchdog said. It’s just the latest legal headache for Zhao and Binance.
