SEC Sues Binance For Multiple U.S. Rule Violations

The Securities and Exchange Commission sued cryptocurrency trading platform Binance on Monday for operating an illegal exchange in the U.S.—the latest in a series of moves from U.S. regulators to crack down on crypto firms.

Sigma Chain purportedly engaged in “manipulative trading” that artificially inflated Binance’s trading volume, the SEC said. The SEC alleges Zhao and Binance publicly claimed the company was created as a separate, independent trading platform for U.S. investors but the company and its founder secretary controlled Binance.US platform’s operations behind the scenes.

Among the evidence cited in the SEC complaint is a quote from Binance’s chief commercial officer that says: “We are operating as a fking unlicensed securities exchange in the USA bro.”the company hadn’t seen the complaint and would respond when it did.This is far from the first time Binance has been in hot water with regulators. In March, U.S. regulators

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