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US SEC Investigates Binance for at Least a Year, Alleging Unlawful Operation of Cryptocurrency Securities Exchange

According to court filings published on Tuesday, the US Securities and Exchange Commission (SEC) has been investigating Binance for at least a year, detailing evidence of hundreds of millions of dollars in unlawful profit by the cryptocurrency exchange. On Monday, the SEC sued Binance's US and global entities, including its CEO Changpeng "CZ" Zhao, alleging that they operated an unregistered securities exchange by allowing people to trade crypto.

The regulator has since sought to freeze Binance's US assets. Binance.US has engaged with the SEC in good faith for nearly two and a half years, but called the lawsuit "baseless" and "unjustified by the facts, by the law, or by the Commission's own precedent."

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