The US Securities and Exchange Commission (SEC) has just sued cryptocurrency exchange Binance and its CEO, Changpeng Zhao.
According to the document, the US regulator has filed 13 charges, including unregistered offers and sales of BNB (BNB) and BUSD tokens, among others.
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In addition, according to the suit, Binance failed to register its Binance.com platform as an exchange, broker-dealer or clearing agency, as did the US division. Notably, Zhao has been sued as a "control person."
The regulator has also qualified the following assets as securities: SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO and AXS.
According to the lawsuit:
"Defendants have unlawfully solicited US investors to buy, sell, and trade crypto asset securities through unregistered trading platforms available online at Binance.com and Binance.US."
According to an SEC release, Zhao and his firm controlled customer assets, commingled them and redirected them "at their discretion."