The U.S. Securities and Exchange Commission (SEC) has filed 13 charges against crypto platform Binance and its CEO for allegedly engaging in an “extensive web of deception” to mislead customers and evade U.S. laws.
The SEC filed its lawsuit against Binance and CEO Changpeng Zhao in the U.S. District Court for the District of Columbia on Monday, alleging that they exhibited “blatant disregard” of the federal securities laws.
“Through 13 charges, we allege that Zhao and Binance entities engaged in an extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law,” SEC chair Gary Gensler said in a press release….