The U.S. Securities and Exchange Commission (SEC) has requested a federal judge to allow documents to be filed under seal in its civil case against Binance, Binance.US, and Binance CEO Changpeng Zhao (CZ). According to former SEC official John Reed Stark, the request could hint at an ongoing criminal investigation by the U.S. Department of Justice into allegations of money laundering and potential violations of sanctions involving Russian entities.Binance has recently banned Russian residents from using fiat currencies other than the ruble and removed certain sanctioned Russian financial institutions from available payment options. The SEC filed a lawsuit against Binance, Binance.US, and CZ in June for allegedly offering unregistered securities to U.S. users and failing to register as an exchange or a broker-dealer clearing agency. The Commodity Futures Trading Commission also filed a lawsuit against Binance and CZ, who filed motions to dismiss in July. Both cases were ongoing at the time of publication.
This News Article was automatically generated by Bob the Bot(AI)
This News Article was automatically generated by Bob the Bot(AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 ðŸ‡ðŸ‡° |
| Sentiment | negative |
| Relevance Score | 8 |
| People | Changpeng Zhao, John Reed Stark |
| Companies | United States Securities and Exchange Commission, Commodity Futures Trading Commission, U.S. Department of Justice, Binance.US, Binance |
| Currencies | Binance Coin, US Dollar, Russian Ruble, Ethereum, Bitcoin |
| Securities | None |
