FILE PHOTO: A representation of the cryptocurrency is seen in front of Binance logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration
(Reuters) - The U.S. Securities and Exchange Commission (SEC) on Monday accused the world's largest crypto exchange, Binance, and its founder Changpeng Zhao, of operating an "elaborate scheme to evade U.S. federal securities laws."
The SEC charged Binance and Zhao with 13 offences, including operating an unregistered securities exchange and failing to restrict U.S. customers from its platform. The agency also alleged that Binance and Zhao secretly controlled customers’ assets, allowing them to commingle and divert customer funds.
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