Crypto exchange Binance sued by SEC in latest blow from US regulators

News Snapshot:

The US securities market watchdog has sued Binance, the world’s largest crypto exchange, accusing it of violations including mixing billions of dollars of customer cash with a separate trading firm owned by its chief executive. The 13 civil charges filed by the Securities and Exchange Commission are the latest regulatory blow to Binance and its chief, Changpeng Zhao, after another US financial agency sued it in March. The allegations include operating unregistered exchanges, broker-dealers and clearing agencies as well as misrepresenting trading controls and oversight on Binance’s US platform. Between mid-2018 and mid-2021, the group earned at least $11.6 billion...