Those Binance charges in full (updated)
The Securities and Exchange Commission has filed 13 charges against Binance and its founder Changpeng Zhao. đż
The full complaint from regulators is a 136-page document, which looks to be absolutely full of juice about the worldâs biggest crypto exchange.
Hereâs the SECâs chosen topline:
Charges include operating unregistered exchanges, broker-dealers, and clearing agencies; misrepresenting trading controls and oversight on the Binance.US platform; and the unregistered offer and sale of securities.
There are many things to be said at this point, but perhaps we should simply echo this comment, on page 64, from one unnamed employee of BAM Trading, Binanceâs operator: âYikesâ.
Thereâs also this fantastic, and utterly unnecessary, â(Emphasis added.)â:
You can read the full rap sheet here. If you spot something fun, let us know in the comments.
Update 17:53 BST: Binance has responded. Quote:
While we take the SECâs allegations seriously, they should not be the subject of an SEC enforcement action, let alone on an emergency basis. We intend to defend our platform vigorously. Unfortunately, the SECâs refusal to productively engage with us is just another example of the Commissionâs misguided and conscious refusal to provide much-needed clarity and guidance to the digital asset industry.
Update 17:55 BST: Get your totes and t-shirts:
Update 19:50 BST: We missed this earlier. No sweetie, media donât get given SEC stuff early (if incompetent shitposting like this isnât evidence enough of that):
Update the morning after: Weâre aware some Redbubble items carrying the design ^^^ had a typo. Weâre trying to get this corrected before theyâre actually produced, if that fails then the ones with typos will become collectorsâ items and have even greater resale value. Everyoneâs a winner (except Louis, who has been fired)!
Source: Financial Times
