Binance faces SEC lawsuit over alleged trading manipulation By Investing.com

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WASHINGTON D.C. – At a pivotal court hearing today, Binance, the world’s largest cryptocurrency exchange by trading volume, defended itself against a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Judge Amy Berman Jackson presided over the proceedings, where Binance was accused of several violations, including manipulating trading volumes, facilitating trades in what the SEC deems unregistered securities, and providing misleading information regarding its market surveillance protocols.

The allegations against Binance extend beyond the current lawsuit. The SEC has also accused the exchange of not implementing sufficient measures to prevent U.S. customers from accessing its services. These charges are part of a larger set of fraud claims the regulatory body has brought against Binance.

In a related case, Binance previously reached a settlement with the U.S. Department of Justice (DOJ) and the Commodity Futures Trading Commission (CFTC), agreeing to pay $4.3 billion for various financial misconduct offenses. Furthermore, Changpeng Zhao, the CEO of Binance, acknowledged the company’s failure to comply with anti-money laundering regulations.

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