The US Securities and Exchange Commission (SEC) filed 13 civil charges against Binance, the world’s largest crypto exchange on 5 June. The crypto exchange is accused of operating unregistered exchanges, broker-dealers and clearing agencies and mixing customer funds with those of separate firms owned by its CEO Changpeng Zhao. The SEC’s chairman Gary Gensler said the 13 charges highlight a scheme involving deceptive practices, conflicts of interest, lack of disclosure and wilful evasion of the law. This follows a lawsuit filed by the US Commodity Futures Trading Commission in March.
Source: https://www.ft.com
