From marketwatch.com

The Securities and Exchange Commission charged Binance Holdings Inc. and its founder Changpeng Zhao with securities law violations Monday. The regulator alleges that Binance, the world’s largest cryptocurrency exchange, “secretly allow[ed] high-value U.S. customers” to trade on the platform in violation of U.S. securities laws which bar unregistered exchanges from servicing U.S. customers. The complaint also alleges that Zhao, known in the crypto world as “CZ”, exercised control over customer assets and commingled them with personal and company holdings. “Through thirteen charges, we allege that Zhao and ... (full story)