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It’s now official: the U.S. Securities and Exchange Commission (SEC) has filed 13 charges against Binance entities and its founder, Changpeng Zhao (CZ). The charges allege that Binance and CZ violated U.S. securities laws by offering unregistered securities to U.S. investors.
The SEC’s complaint alleges that Binance and CZ offered and sold digital asset securities to U.S. investors without registering the securities with the SEC. The complaint also alleges that Binance and CZ failed to comply with the SEC’s anti-money laundering rules.
In response to the charges, CZ issued a statement on Twitter, saying that he and Binance “will vigorously defend themselves against the SEC’s allegations.” He also noted that Binance has “always been committed to compliance with applicable laws and regulations” and that the company “will continue to do so.”
The SEC’s charges against Binance and CZ are a reminder that digital asset exchanges and their founders must comply with U.S. securities laws. The SEC’s complaint is a warning to all digital asset exchanges and their founders that they must take steps to ensure that they are in compliance with U.S. securities laws.
It remains to be seen how this case will play out, but it is clear that the SEC is taking a hard stance on digital asset exchanges and their founders. It is important for all digital asset exchanges and their founders to take steps to ensure that they are in compliance with U.S. securities laws.
So this is why my portfolio is deep in the RED today?
CZ destroying our short lived bullrun of 2023
Edit: BTC just went to $25.5k FML
Fucking bloodbath
Wait a SEC,
SEC charges CZ for minor things but not Wallstreet’s financial criminals – banks who in the past, collapsed the whole economy? Why media get notified first and not CZ himself? That sounds weird and not right.
As stated in an article:
>We allege that Zhao and the Binance entities not only knew the rules of the road, but they also consciously chose to evade them and put their customers and investors at risk.
Where was SEC when FTX fucked up some million people?
Nowhere.
Bitcoin price now crashing, aww shit here we go
Fuck the SEC
That would explain why he was rapidly installing a successor.
How the SEC decides which exchange to sue:
>!Coinbase!< >!Binance!< >!Crypto.com!< >!Bitfinex!< >!OKX!< >!Gate.io!<
>!KuCoin!< >!Bybit!< >!Gemini!< >!Kraken!< >!MEXC!< >!Bitthumb!<
>!Bitget!< >!Bitstamp!< >!Huobi!< >!Bitflyer!< >!Coinme!<
F
If Binance goes down we are in for a nuclear crypto winter.
So much for bullrun 2024 🤣
Well, many people here said Binance/CZ was next to fall.
Time to reset the count…
Days since last disaster: 0
And I am watching Bitcoins Reaction.
Looks like we’re in for a ride once again. Hold tiht boys!
All I can think of is – how is CDC somehow surviving all this
Until the SEC sue Ethereum promoters this entire market is a farce run by the most powerful cartel in the US. I’ll bet a revived FTX run by Sullivan and Cromwell ends up taking over as the largest volume exchange
“This is good for bitcoin”
Some fines and penalties for Binance.us. So what? A lot of overreactions here and in the markets
I was hoping this wouldn’t happen but I was also expecting it to. Hopefully our bags don’t suffer too much
I hope my funds are SAFU
https://youtube.com/watch?v=UMjbzsnT_fU&feature=share7
They are claiming SOL, ADA, MATIC, FIL, ATOM, SAND, MANA and XLS are securities. That is very bad for those projects.
The USA just trying to spoil everyone’s fun, sooner all the major exchanges leave the US the better, they truly are a cancer in this world (American politicians and the SEC)
Even if Binance goes down crypto will still be here in a decade
**funds are safu** 😉
First Coinbase and now this… Man the SEC is annoying
We are dipping hard…. so this is why
This isn’t the Monday I was hoping for.
>What do you guys think?
A fire sale before next years halving. 🔥
Think it’s gonna be a nothing burger again if you’re Binance user outside the US.
If you’re in the US you wouldn’t use Binance anyway.
Was nice sailing eith you frens
Steady lads, deploying more lawyers.
-CZ
I was wondering why I saw a big red candle like 40mins ago
I would prefer this to have not happened.