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Federal regulators have sued Binance, the world’s largest crypto exchange, accusing the company of running an illegal exchange in the United States and commingling billions of dollars’ worth of customer funds.
The Securities and Exchange Commission, Wall Street’s primary regulator, alleges the company acted in “blatant disregard” of U.S. securities laws. It also named Binance’s CEO Changpeng Zhao, known as CZ, as a defendant.
