US regulator sues crypto exchange Binance for violating laws

The largest cryptocurrency exchange platform, Binance, is facing legal action by the United States Securities and Exchange Commission (SEC). On Monday, the SEC accused Binance of conducting financial transactions and providing services unlawfully without the necessary authorizations.

Changpeng Zhao, the co-founder and chief executive of Binance, has been accused of deception, conflict of interest, among other allegations.

The SEC tweeted about its decision to file charges against Binance Holdings Ltd.