SEC Sues Binance and CEO Changpeng Zhao for Violating US Securities Rules

Earlier, according to Bloomberg, the Securities and Exchange Commission (SEC) has sued Binance and its CEO Changpeng Zhao (CZ) for violating US securities rules. CZ himself responded that the team will ensure the deposit and withdrawal, and will respond immediately after receiving the complaint.
(Recap:Heavy! SEC sues “Binance, CEO Changpeng Zhao” for violating US securities laws, BNB plummets）
(background supplement:Another country’s regulatory tightening “Binance International Edition will ban “Japanese users” from 11/30!The new Binance Japan launched in December）

according toBloomberg today (5) at 11:00 p.m.latest newsthe U.S. Securities and Exchange Commission (SEC) has sued Binance and its CEO Changpeng Zhao (CZ) for violating U.S. securities rules.

In less than half an hour, CZ issued a signature “4”, indicating that the team is ensuring the stability of the Binance system and hoping to appease the short-term panic in the community.

Our team is working hard to ensure the stability of the system, including withdrawals and deposits.

We will issue a response as soon as we see the complaint. Haven’t seen it yet, the media got the information before we did.

4.

Our team is all standing by, ensuring systems are stable, including withdrawals, and deposits.

We will issue a response once we see the complaint. Haven’t seen it yet. Media gets the info before we do.

🙏

— CZ 🔶 Binance (@cz_binance) June 5, 2023

Further reading:CZ grievances and grievances: Regulators in various countries love to pick on Binance’s faults, and the media discredits cryptocurrencies..

12:05 Update》SEC Prosecution Details

According to court documents, the U.S. SEC filed 13 charges against Binance and CZ, including operating an unregistered exchange, illegally offering and selling securities to U.S. investors, including BNB, BUS, Binance’s “BNB Vault” program and Binance’s “Simple Earn” program…and more

Binance suffers from global regulatory scrutiny

Under the recent regulatory pressure, Binance is facing difficulties in the process of seeking global compliance. In addition to the US investigation into whether Binance violated sanctions against Russia in early May, Binance even announced the launch of CZ on May 13. Home country Canada, because the CSA guidance in February was “too stringent”.

In addition, Westpac Bank, Australia’s oldest bank, also banned customers from trading with Binance on the grounds of “slowing down fraud losses”, which resulted in users of Binance Australia’s subsidiary (Binance Australia) not being able to deposit and withdraw Australian dollars through bank transfers.

Further reading:Binance exits the Canadian market!Strict regulatory reasons, helpless sigh: I have family and country feelings for CZ

Further reading:Binance Australian dollar “surprised to see a 40% premium”? CZ: Cancellation of cooperation by the bank led to the withdrawal of trading pairs

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