yesterday, the United States Securities and Exchange Commission filed a lawsuit against Binance for violating securities regulations, among other things. The agency alleged that the native token of the exchange, as well as BUSD, are unregistered securities.
In general, the lawsuit is making the claim that Binance and its CEO – Changpeng Zhao – exercised control over the US branch of the firm – Binance US – and the assets on its platform, despite the pretense of independence from the American entity.Binance of secretly continuing to service US clients at the international exchange – something that the US Commodities and Futures Trading Commission also alleged in March.
The market is down on some binance FUD. But regardless of the catalyst, risk mrkts r on edge cause of the TGA refill. By end of summer, the mrkt will move past that and onto the lg amt of money printing humming along in the background. I have a few shitcoins to buy in the meantime. Meanwhile, Binance also released a public statement on the matter, accusing the SEC of not prioritizing their investors but instead attempting to obtain jurisdictional ground.
The company also reassured that all user assets on Binance and the Binance affiliate platforms are safe.
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