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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBinance.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 […]
Binance US to Be Cut Off From Banking System After SEC Crypto Suit – Bloomberg
Binance.US is being cut off from its banking partners in the fallout from a Securities and Exchange Commission lawsuit against the cryptocurrency exchange. In an email to customers, the platform said its payment and banking partners have signaled an intent to pause US dollar fiat channels as early as June 13. That means “our ability […]
Binance.US Struggles to Find Bank to Take Its Customers’ Cash – WSJ
The U.S. affiliate of global crypto exchange Binance has struggled to find a bank for its customers’ cash after the failure of Signature Bank left it without a key banking partner, people familiar with the matter said. Users’ dollar deposits were previously sent to either Signature Bank or Silvergate Capital Corp., according to Binance.US’s website. The […]
Texts From Crypto Giant Binance Reveal Plan to Elude U.S. Authorities – WSJ
Worried about the threat of prosecution, Binance set out on a plan to neutralize U.S. authorities, according to messages and documents from 2018 to 2020 reviewed by The Wall Street Journal as well as interviews with former employees. The strategy centered on building a bare-bones American platform, Binance.US, that would license Binance’s technology and brand […]
Binance.US Is Operating ‘Unregistered Securities Exchange,’ SEC Official Says
A U.S. Securities and Exchange official said agency staff believe Binance.US is operating an unregistered securities exchange in the U.S., and that staff believe the sale of VGX tokens by Voyager Digital violated federal securities laws. Speaking at a bankruptcy hearing to determine if Voyager should be sold to Binance.US, SEC Senior Trial Attorney William […]