A US court has slapped Binance CEO Changpeng Zhao, otherwise known as CZ, with a summons on behalf of the Securities and Exchange Commission (SEC). The agency has hurled accusations against Binance of securities law violations, including offering unregistered services and misleading investors. Even so, Coinbase remains undecided on delisting the alleged violator’s assets.
The crypto industry took note as US officials hit Binance’s CEO with a lawsuit amid an intensifying crackdown. The US court addressed the summons to his residence in Malta, where Binance was previously headquartered. Little other information is available at present.
CZ Receives a Summons
The document says Zhao has to respond within 21 days. Although, this does not necessarily mean he will have to appear in person. Zhao is a citizen of Canada and not the United States.
Binance, the world’s largest cryptocurrency exchange by trading volume, and its CEO, face…
