Hi Readers,

It has been a while we have witnessed the significant moves by Securities and Exchange Commission (SEC) in US against the Crypto firms within the regulatory framework concepts within US Laws.

We all know that it has been eyeing with Binance, the Crypto leader.

Having made various analysis, on Monday, SEC has sued the Crypto Leaders Binance and Coinbase which created a tremor in the Crypto markets.

The regulator accused Binance with 13 serious allegations.

Among the central allegations from the SEC it reads that Binance and its founder Zhao failed to truly split the US company from the US exchange that it was spun off from.

In a reply to this, Binance.US says that from the year 2019, its customers were restricted from transacting on Binance.com.

SEC alleges that in reality, Binance and its founder Changpeng Zhao subverted their own controls to secretly allow high networth US customers to continue trading on the Binance.com platform which are the breach with a variety of securities law violations in US. 

The SEC alleges while Binance publicly claimed that Binance.US was a separate, independent trading platform for US investors. But its founder Changpeng Zhao is secretly controlling the US company behind the scenes.

Though the Binance Case has been under the suspected ring of SEC, now SEC come up with this sue notice and make a move to freeze the assets. 

With this information, there is a widespread panic prevails at the crypto market.

The global crypto market cap today stood at $1.1 Trillion, with a 2.49% decrease over yesterday. BTC trades at US$ 26,380. Coinbase trades firm at 53.26 USD in Nastaq. 

Let’s wait and watch how this case would process further and would create the impact among the crypto firms and with the crypto investor communities at large!