The US SEC accused Binance of violating the law

15.06.2023 Over the past 24 hours, investors have withdrawn more than $790 million from Binance, the world's largest cryptocurrency exchange in terms of transactions.

The day before, the US Securities and Exchange Commission (SEC) announced that it had filed a lawsuit against Binance and its CEO Changpeng Zhao in federal court. The SEC accused them of violating the rules of circulation of US securities on 13 counts. Among them are the work of unregistered exchanges, broker—dealer and clearing agencies, misrepresentation of information about the control and supervision of trading on the platform, unregistered offer and sale of securities.

According to the agency, Binance secretly allowed large clients from the United States to trade on the platform, although it publicly announced a ban on operations for American users.

A Binance representative said they were disappointed by the SEC's decision to sue the exchange, stressing that the exchange actively cooperated with the SEC and "made every effort to answer their questions and solve problems." "The SEC's refusal to engage productively with us is yet another example of the commission's mistaken and deliberate refusal to provide much—needed clarity and guidance to the digital asset industry," the company said.

Source: https://www.binance.com/en/blog/ecosystem/sec-complaint-aims-to-unilaterally-define-crypto-market-st...

https://www.sec.gov/news/press-release/2023-101