On 5 June 2023, the U.S. Securities and Exchange Commission (“SEC”) issued a press release announcing that it has filed 13 charges against Binance Holdings Ltd. (“Binance”) and its founder Changpeng Zhao, claiming that they engaged in activities that amount to an “extensive web of deception, conflicts of interest, lack of disclosure, and calculated evasion of the law”.
The recent actions taken by the SEC have caused significant disruption within the crypto community and raised concerns about the regulations surrounding digital assets. The outcome of this case will not only impact Binance but also establish a precedent for other exchanges. It will also shape the regulatory landscape for the broader cryptocurrency market and impact how they conduct their business. We’ve put together a handy one-page guide to the SEC’s charges against Binance and its founder for alleged deceptive practices and violations of securities regulations in the cryptocurrency industry.
Please click here to access our guide to the SEC’s Charges against Binance and Founder.
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