Binance, the world’s largest cryptocurrency exchange, has been sued by the Securities and Exchange Commission for allegedly operating an illegal exchange in the US. The lawsuit - which is the latest action taken by regulators to get crypto firms to comply with US law - was filed in federal court in the District of Columbia on Monday, and named Changpeng Zhao as a defended.Zhao is the founder and controlling shareholder of the cryptocurrency - and Wall Street regulator SEC accused Binance of mishandling billions in customer funds, as well as lying to regulators and investors about its operations.
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