Cryptocurrencies
Bulk of SEC Case Against Binance, Zhao Can Proceed, Judge Rules
- The SEC sued Binance and co-founder Zhao in June last year
- Defendants petitioned court to have the lawsuit dismissed
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The bulk of a Securities and Exchange Commission lawsuit against Binance, the world’s largest crypto exchange, and its co-founder Changpeng “CZ” Zhao can proceed, a US judge ruled.
The SEC sued Binance and Zhao a year ago for mishandling customer funds, misleading investors and regulators, and breaking securities rules. The defendants contested the claims and asked for the case to be dismissed.