WSJ: SEC Still Seeking More Evidence of Binance.US Fraud
According to the US Securities and Exchange Commission (SEC), they are still looking for evidence to determine whether Binance and its founder CZ have a backdoor to control assets stored on the Binance.US platform.
In June, the US Securities and Exchange Commission sued Binance and Binance.US, accusing them of operating an illegal securities exchange, and their lawsuit has so far relied on the agency's concerns that Binance may have embezzled US encrypted assets using fraud similar to FTX.
Binance and CZ admitted to criminal charges last week and essentially resolved a long-standing US investigation related to anti-money laundering controls and compliance with sanctions laws, but the Department of Justice's case did not include allegations of Binance's abuse of its clients' encrypted assets.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Vitalik Buterin calls for prioritizing key upgrades such as “Blob Scaling”
BTC falls below $95,000
Wells Fargo: Fed may not take inflation caused by Trump's tariff policy too seriously
AI could be the ‘biggest bubble’ since dot-com
GSR’s Toe Bautista is keeping a close eye on AI and its potential impacts on crypto