The U.S. Securities and Exchange Commission (SEC) has filed a lawsuit in the federal court against Binance Holdings and its CEO, Changpeng Zhao. In a 136-page complaint, the SEC accuses the company of violating securities rules and mishandling client funds. Specifically, the SEC claims that Binance allowed unlawful transactions by American clients. The commission referred to the actions of the company and its founder as a “vast network of deceit, conflicts of interest, and evasion of the law.” Regulators continue to monitor the situation, and the future of Binance remains uncertain.
