Binance.US Not Playing Ball With Probe Into Changpeng Zhao’s Empire, SEC Says, As Focus Turns to Custody Arm Ceffu

Binance.US has been accused of not cooperating in a probe by the Securities and Exchange Commission, which has said the company’s staking, clearing and brokerage services violate federal securities law, in court filings unsealed Thursday.

Federal U.S. regulators worry the crypto exchange’s use of Ceffu, a custody service offered by Binance’s international arm, violates a previous deal intended to stop assets being squirreled overseas.

Binance.US’ holding company, known as BAM, has provided “only approximately 220 documents … many that consist of unintelligible screenshots and documents without dates or signatures,” the SEC said, of the process of evidence-gathering known as discovery.

Source: Binance.US Not Playing Ball With Probe Into Changpeng Zhao’s Empire, SEC Says, As Focus Turns to Custody Arm Ceffu