Janet Yellen said plainly Tuesday that there is no need for new cryptocurrency rules at a news conference announcing the $4 billion settlement with Binance
The plea comes as the company agreed to pay over $4 billion as part of an agreement with the U.S. government
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The platform, which has been delisted and registered ‘unaccounted for,’ has been moving money to places such as Seychelles, Kazakhstan and Lithuania
Per a consent order filed Saturday, the defendants in the June 5 lawsuit agreed to repatriate all assets held for the benefit of Binance’s U.S. trading customers
Binance and Coinbase are both alleged to have violated the law by operating as securities exchanges without registering their businesses with the Securities and Exchange Commission
The United States’ markets regulator, the Securities Exchange Commission, sued the company and called for it to be totally banned in the country
The U.S. agency accused the platform of operating an unregistered securities platform and brokerage service. The lawsuit comes a day after charges were filed against Binance, the world’s largest crypto exchange
The Securities and Exchange Commission lawsuit on Monday lists thirteen charges against the world’s largest cryptocurrency exchange and its founder, Changpeng Zhao
