Cryptocurrencies, the Binance platform. Photo Lapresse
Cryptocurrencies, Sec and the Binance investigation. Here’s what’s behind it
Tremble the colossus of criptovalute Binance. Most platform of exchange ended up in the crosshairs of Sec (security and exchange commission, US federal body responsible for the supervision of stock exchanges). The company and its CEO and founder Chagpeng Zhao – reads the Sole 24 Ore – are accused of having violated federal laws on financial products. The lunge of the Commission is particularly hard: “blatant contempt” of federal regulations and the protections they offer to the investor and the market. Among other things, the SEC accuses the exchange of having urged investors US to “buy, sell and trade” crypto asset securities (i.e. financial products) through platforms exchange online do not register and available at Binance.com and Binance.Us.
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Binance – continues the Sun – would have mixed “billions of dollarsof client funds and would secretly send them to a separate company controlled by the founder and CEO of the company, Changpeng Zhao. “We support Zhao and Binance knew the rules but they consciously chose to evaderle and put their customers and investors at risk,” says the Sec. The most prominent centralized crypto platform, for its part, has reacted harshly.”The lawsuit is unfounded” he said. Furthermore, Binance, the company always said, “cannot be considered a US stock exchange and”, therefore, “the action power of the SEC is limited“. So the group is intent on defending itself “vigorously”.
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