SEC Sues Cryptocurrency Exchange Binance Alleging Violations Of U.S. Securities Laws

The U.S. Securities and Exchange Commission (SEC) has filed a complaint against cryptocurrency exchange Binance, accusing the company of violating federal securities laws. The SEC alleges that Binance, the world’s largest cryptocurrency exchange platform, unlawfully solicited U.S. investors to trade crypto asset securities on its platforms, Binance.com and Binance.US. Per the complaint, Binance engaged in unregistered offers and sales of securities and made false representations to investors regarding surveillance and controls over manipulative trading. According to the SEC’s claim, Binance and its subsidiary, BAM Trading, operated as an exchange, broker-dealer and clearing agency without registering with the SEC. The commission