The US policeman of the financial markets, the SEC, sued on Monday the largest cryptocurrency exchange platform in the world, Binance, as well as its boss, Changpeng Zhao, for circumventing the regulations. According to the document filed with a federal court in Washington, Binance notably let US residents use its platform while the company was not registered with US authorities.
Industry leader, Binance had given up last November to buy its competitor FTX, in turmoil since its founder Sam Bankman-Fried is prosecuted for several charges, including electronic fraud, money laundering and violation of electoral laws. A news that had dropped very violently the price of Bitcoin. The cryptocurrency had reached its highest levels in 2021, climbing to nearly 60,000 euros, but has continued to fall since.
In April 2022, Changpeng Zhao, also nicknamed CZ, announced in our columns that he wanted to install Binance's European headquarters in Paris and submit to future European regulation. He had also indicated his intention to open an incubator at Station F to help start-ups in Web 3.
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