Binance and Zhao allegedly undermined the company's own compliance, courted U.S. investors and traded against its customers using market-making companies.

U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception," piling further pressure on the world's biggest cryptocurrency exchange and sending bitcoin to its lowest in almost three months.

The US Securities and Exchange Commission on Monday sued Binance and its CEO, Changpeng Zhao. The Wall Street Journal reported that the lawsuit accuses the world's largest cryptocurrency exchange of breaking US securities rules and for operating an illegal exchange.

The U.S. Securities and Exchange Commission sued crypto exchange Binance, the operating company for Binance.US and Binance founder and CEO Changpeng "CZ" Zhao on allegations of violating federal securities laws on Monday.

The Securities and Exchange Commission (SEC) has sued Binance and its founder Changpeng Zhao for violating security rules

The world's largest crypto exchange Binance and its CEO and founder Changpeng Zhao were sued by the U.S. Securities and Exchange Commission on Monday for failing to restrict U.S. customers from its platform and misleading investors about its market surveillance controls,

Crypto exchange Binance and its chief executive officer Changpeng Zhao are being sued by US regulator the Securities and Exchange Commission.