US regulators are suing cryptocurrency exchange giant Binance, which they said ran illegal cryptocurrency-based trades with US investors and a 'sham' compliance program.
Company founder Changpeng Zao and former Chief Compliance Officer Samuel Lim were also named in the suit. The US government accuses Binance of encouraging US customers to open accounts without verifying their identity and allowing them to communicate with the company via a messanger service that then deleted all chat records. In a written statement, Binance said the suit was 'disappointing' but promised to continue to work with regulators.
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